Total Growth Model: Cloud and ARR Growth
Application Modernization and Connectivity Divestiture
Pro Forma as of Fiscal Year Ended June 30, 2023 (1)
Revenue
(License and Customer Support, Off-Cloud)
A-EBITDA
$275M
$500M
Employees
~750
Enterprise Suite: Mainframe application modernization,
migration analysis development, test and deployment tools
COBOL: Development and deployment tooling for distributed
COBOL applications
Host Connectivity: Mainframe/Unix emulators, application
access, process automation and security solutions
Mainframe ADLM: Mainframe source code change management
tooling
CORBA: High performance, reliable and secure messaging
middleware
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Sale Price and Closing Conditions
Transaction Details
$2.275B all-cash purchase price
$2.0B of net proceeds (after taxes and fees) (2)
4.6x pro forma F'23 AMC Revenues(1)
8.3x pro forma F'23 AMC A-EBITDA(1)
Use of Net Proceeds
Payoff remaining amounts due on Term Loan B due 2025
Reduce Acquisition Term Loan due 2030
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(1), (2) See Slide Notes
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