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Share Name Share Symbol Market Type Share ISIN Share Description
Micro Focus International Plc LSE:MCRO London Ordinary Share GB00BJ1F4N75 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -13.30 -2.75% 471.20 471.30 472.00 489.60 466.90 486.00 743,436 16:35:23
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 2,317.7 -2,270.9 -683.2 - 1,580

Micro Focus International plc Commercial Agreement with Amazon Web Services

03/03/2021 7:00am

UK Regulatory (RNS & others)


Micro Focus (LSE:MCRO)
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RNS Number : 9416Q

Micro Focus International plc

03 March 2021

3 March 2021

This announcement contains information that was previously Inside Information, as that term is defined in the Market Abuse Regulation (Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014) as it forms part of domestic law by virtue of The European Union (Withdrawal) Act 2018.

Micro Focus International plc

Entry into Commercial Agreement with Amazon Web Services

Micro Focus International plc ("Micro Focus" or "the Company"), is pleased to announce today the signing of a commercial agreement with Amazon Web Services ("AWS")*.

Stephen Murdoch, Chief Executive of Micro Focus said:

"This important strategic agreement between Micro Focus and AWS combines our technology leadership position in Application Modernisation with the world's most comprehensive and broadly adopted cloud provider. The modernization of mainframe applications and workloads into cloud environments is increasingly becoming an imperative in the digital transformation programmes of large enterprises worldwide, and this collaboration has the potential to drive new customer adoption and growth within our Application Modernisation and Connectivity ("AMC") Product Group for an extended period."

Todd Weatherby, VP and Head of AWS Professional Services, said:

"We are excited about this collaboration because together we will be able to help customers modernize their mainframe applications and workloads more quickly and easily. For most enterprises, migrating their mainframe applications and workloads to the cloud is often uncharted territory. AWS is committed to helping our customers navigate the application modernization journey through the combination of our Professional Services expertise, AWS System Integrator Partners, and Micro Focus' technology."

The commercial agreement formalizes a strategic collaboration to accelerate the modernization of mainframe applications and workloads of large public and private enterprises to the AWS Cloud. AWS and Micro Focus will work together to deploy Micro Focus technology for customers embarking on the transformational journey to modernize their business-critical mainframe applications and workloads to an agile, cloud-based production environment.

In conjunction with the entry into the commercial agreement, Micro Focus has issued warrants to Amazon NV Investment Holdings LLC to subscribe for up to 15,924,384 ordinary shares in Micro Focus (the "warrants") at 446.60 pence per share.

The vesting of the warrants generally depends on the level of software revenues generated by AWS for Micro Focus under the commercial agreement over the multi-year term, according to revenue targets set out in the agreement. Full vesting of the warrants requires the commercial agreement to deliver a material impact on both AMC and total Group revenues.

The vesting of the warrants is subject to acceleration in certain limited circumstances (including a change of control of the Company or a sale of certain parts of the Group). The warrants are exercisable at any time following vesting until the 10(th) anniversary of the date of the warrant instrument (except in limited circumstances).

*Commercial agreement between Amazon.com Services LLC and Micro Focus (US), Inc.

Enquiries:

   Micro Focus                                                         Tel: +44 (0)1635 32646 
   Stephen Murdoch, CEO                                        Investors@microfocus.com 

Brian McArthur-Muscroft, CFO

Ben Donnelly, Head of Investor relations

   Brunswick                                                           Tel: +44 (0) 20 7404 5959 
   Sarah West                                                           MicroFocus@brunswickgroup.com 

Jonathan Glass

Notes to Editors:

About Micro Focus

Micro Focus (LSE: MCRO.L, NYSE: MFGP) is a global enterprise software company supporting the technology needs and challenges of the Global 2000. Our solutions help organizations leverage existing IT investments, enterprise applications and emerging technologies to address complex, rapidly evolving business requirements while protecting corporate information at all times. Our product portfolios are Security, IT Operations Management, Application Delivery Management, Information Management & Governance and Application Modernization & Connectivity. For more information, visit: www.microfocus.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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March 03, 2021 02:00 ET (07:00 GMT)

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