HPE reported today that it has agreed to spin off and merge several of its "non-core" assets, including Enterprise Security, with Micro Focus to create a new company that will continue under the name Micro Focus.
The $8.8 billion deal also will include HPE's Application Delivery Management, Big Data, Information Management & Governance and IT Operations Management businesses. HPE told SCMagazine.com in an email that it will retain a 50.1 percent stake in the new company.
“The new company will have the global footprint, agility and financial strength to drive software innovation across a comprehensive array of products,” HPE said.
The combined company will have revenues in the $4.5 billion range and will be led by Kevin Loosemore, executive chairman of Micro Focus.
Micro Focus describes itself as a global enterprise software.