Open Text To Buy British Software Firm Micro Focus For $6 Billion Canada’s Open Text (OTEX) is buying British software firm Micro Focus International (MCRO) for $6 billion U.S. Waterloo, Ontario-based Open Text has offered 532 British pounds per Micro Focus share, representing a 99% premium to that stock’s closing price on August 24. Open Text said it will fund the takeover with $4.6 billion U.S. in debt, $600 million U.S. from an existing credit line, and cash on hand. Micro Focus is headquartered in Newbury, England and sells enterprise software to thousands of organizations, including Airbus (AIR), Hewlett Packard (HPE), and Kellogg Co (K). Its products help companies with cybersecurity, information technology, and online messaging. However, Micro Focus has reported declining earnings every year since 2018, and analysts had speculated it was a takeover target. The acquisition of Micro Focus builds on Open Text’s stated strategy to grow through acquisitions. Open Text has made a series of deals to bolster its software portfolio in recent years, including purchasing email encryption company Zix Corp. and cybersecurity firm Carbonite.