(Alliance News) - Micro Focus International PLC on Wednesday said it has agreed to sell its archiving and risk management portfolio in a USD375 million deal.
The assets, collectively known as Digital Safe, will be sold to Portland, Oregon-based Smarsh Inc, an electronic communications archiving firm.
Newbury, England-based software and information technology firm said the sale is expected to be completed in the first quarter of next year.
Proceeds from the sale will go towards separation costs and trimming debt.
For the year which ended on October 31, Micro Focus expects the businesses to have generated USD109 million of revenue, down 11% at constant currency.
Micro Focus shares were 7.5% higher at 390.60 pence each in London on Wednesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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