Golden Gate Closes Book On Micro Focus Success

February 19 saw US private equity firm Golden Gate Capital sell its remaining 22% stake in UK software company Micro Focus for GBP117mn (US$166mn), ending the two companies eight-year association and bringing Golden Gate's total profits from the gradual sale of the firm to GBP278mn. Golden Gate sold the remaining 45mn shares at GBp260 each, almost double its intended placing of just 25mn shares and at a discount to the previous day's closing price of GBp287.25. Alongside Parallax Capital Partners, Golden Gate bought Micro Focus out of business group Merant in 2001 for just GBP45mn before floating it on the

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