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Micro Focus exploring venture capital offers

Alex Scroxton

Micro Focus has broken cover over the identity of the unknown suitors who made a preliminary approach to acquire the embattled software firm towards the end of April.

In a statement to the City on Friday, the firm, which earlier this year ditched its CEO following a spate of profit warnings, said that it had "received a number of preliminary, non binding approaches ... including from [venture capital investors] Bain Capital and Advent International".

Micro Focus said it was exploring both offers, but added there is absolutely no certainty that any offer will be forthcoming.

The possibility of a deal to rescue Micro Focus has been well received by the markets, with stock rising eight per cent in the aftermath of the announcement.

Micro Focus is currently valued at just under £790m.


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