Micro Focus completes Serena Software purchase

International software group Micro Focus said it has completed its acquisition of Serena Software for an enterprise value of $540m.

The transaction has been financed through a combination of existing cash resources, including the £158.2m raised through an institutional placing of ordinary shares which completed on 24 March 2016, and debt facilities.

Micro Focus said in March that its revolving credit facility had been extended by another $50m to $375m through an additional commitment by the Royal Bank of Scotland.