Foreign Buyers Hoover Up Britain's Fast-Growing Tech Companies [Financial Post (Toronto, Ontario, Canada)]
Micro Focus Intl PLC ADS each representing One Ord Sh (MFGP)
US:NYSE Investor Relations:
investors.microfocus.com
Company Research
Source: Financial Post
(Bloomberg) — A wave of foreign buyers is coming after British technology companies, threatening to rob the UK market of what little exposure it still has to high-growth assets. Advertisement Canadian Open Text Corp.’s takeover offer for Micro Focus International Plc follows NortonLifeLock Inc.’s purchase of cybersecurity firm Avast Plc, interest from France’s Schneider Electric SE in industrial software developer Aveva Group Plc and US buyout group Thoma Bravo’s overtures toward Darktrace Plc. These deals may not be the last, as a protracted selloff in growth assets and a weaker pound make the UK fertile ground for bargain hunters. But the foreign shopping spree is completely at odds with the British government’s efforts to foster a strong domestic tech scene and attract more growth listings in London. “The swoop on UK targets by overseas buyers will undoubtedly cause unease among politicians,” said Susannah Streeter, senior analyst at Hargreaves Lansdown. “It’s fresh evidence th
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