The company has some 100 employees, including 35 in the Triangle. Masonave said he expects Micro Focus will make few layoffs. Micro Focus is based in the United Kingdom and has development offices in Raleigh as well as Austin, Texas, and India, where Relativity also has operations. "There is some overlap," Masonave said. Relativity was selected as one of Fortune magazine's 2001 Cool Companies and Computerworld's Top 100 Emerging Companies for 2002. Wadhaw left as chairman in a bitter dispute with investors, and he later sued the company. The two parties reached a settlement, details of which were not disclosed. "The board of Micro Focus believes that combining the businesses of Micro Focus and Relativity will further strengthen Micro Focus's position as a leading player in the fast-growing, highly fragmented application modernization market," the companies said in a statement. Micro Focus, a public company whose stock is traded on the London Stock exchange, reported revenues in excess of $170 million in 2007.