Micro Focus has carved a niche in helping organisations modernise mainframe applications. According to its website, it has 18,000 customers inlcuding many bluechips including HSBC and Tesco.
The company made a killing during the Y2K period, with software to migrate mainframe software with the date bug (ie only coding two digit years such that 1900 and 2000 would read 00) to the lower cost PC platform.
All the big IT firms want a piece of the highly lucrative mainframe market, which still is a big earner for IBM. HP, Microsoft, Oracle and the major services organisations would all make good homes for Micro Focus