Once finalized, the divestiture of these product lines will enable the
company to complete the divestiture of its 10 non-Core product lines
ahead of schedule, leaving the company to focus its innovation on a core
portfolio of software products that address IT challenges in the rapidly
growing cloud, big data, mobility and analytics markets. Taken together,
the total sales price for all divested products and products under
agreement to be divested is approximately
The transaction is subject to customary closing conditions and is
expected to be completed in
About Micro Focus
Micro Focus, a member of the
About
Actional, DataXtend, Fuse, Progress, Savvion, Shadow and Sonic are
trademarks or registered trademarks of
Forward-Looking Statements
This press release contains statements that are "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Progress has identified some of these forward-looking
statements with words like "believe," "may," "could," "would," "might,"
"should," "expect," "intend," "plan," "target," "anticipate" and
"continue," the negative of these words, other terms of similar meaning
or the use of future dates. Forward-looking statements in this press
release include, but are not limited to, statements regarding Progress's
strategic plan and the expected timing for completion; and the
components of that plan including product divestitures; and other
statements regarding the future operation, direction and success of
Progress's business. There are a number of factors that could cause
actual results or future events to differ materially from those
anticipated by the forward-looking statements, including, without
limitation: (1) Progress's ability to realize the expected benefits and
cost savings from its strategic plan; (2) market acceptance of
Progress's strategic plan and product development initiatives; (3)
disruption caused by implementation of the strategic plan and related
restructuring and divestitures on relationships with employees,
customers, ISVs, other channel partners, vendors and other business
partners; (4) pricing pressures and the competitive environment in the
software industry and Platform-as-a-Service market; (5) Progress's
ability to complete the proposed product divestitures in a timely
manner, at favorable prices or at all; (6) Progress's ability to make
technology acquisitions and to realize the expected benefits and
anticipated synergies from such acquisitions; (7) the continuing
weakness in the U.S. and international economies, which could result in
fewer sales of Progress's products and/or delays in the implementation
of Progress's strategic plan and may otherwise harm Progress's business;
(8) business and consumer use of the Internet and the continuing
adoption of Cloud technologies; (9) the receipt and shipment of new
orders; (10) Progress's ability to expand its relationships with channel
partners and to manage the interaction of channel partners with its
direct sales force; (11) the timely release of enhancements to
Progress's products and customer acceptance of new products; (12) the
positioning of Progress's products in its existing and new markets; (13)
variations in the demand for professional services and technical
support; (14) Progress's ability to penetrate international markets and
manage its international operations; and (15) changes in exchange rates.
For further information regarding risks and uncertainties associated
with Progress's business, please refer to Progress's filings with the
Investors:
tobarth@progress.com
or
Press:
rlacroix@progress.com
Source:
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