HP MICRO FOCUS SOFTWARE

Mr Murdoch saidВ that Micro Focus was 'getting back on track and getting the basics of our business model right'. He had previously served as the boss of Micro Focus up until 2016, butВ stepped aside for HP's Mr Tsu after the merger. Stephen Murdoch was appointed as Micro Focus's new chief executive in May last year. The March profit warning cut its share price in half and cost the company its positionВ as the UK's most valuable listed technology firm. Last year, its shares plunged and chief executive Chris Hsu resignedВ after it struggled to integrate the new company amid an IT overhaul and sales staff leaving.

HP MICRO FOCUS SOFTWARE

Shares jumped 11pc on the announcement.Дespite the bumper deal for HPE's software assets in 2017, Micro Focus endured a difficult 12 months as it beddedВ in thousands of new employees. In its full-year results, the company said it would extend aВ $400m share buy back programme by another $110m.

Micro Focus posted a 12-month revenue decline of 5.3pc, slightly better thanВ estimates. The Newbury-based software company, Britain's second largest listed tech firm, aimed to ease investor concerns that teething troubles over the $8.8bn (ВЈ6.9bn) deal were coming to an end. Micro Focus posted better than expected results as it pressed on with reshapingВ its business two years after its troubled deal to buyВ Hewlett Packard EnterpriseвЂ™s (HPE) software arm.

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