Feeds

Brit software group swallows Borland for $67m

Micro Focus mops up names from history

Choosing a cloud hosting partner with confidence

Micro Focus has bought Borland for $67m and is also buying the application testing business of Compuware.

Compuware described the sale as an $80m transaction.

Micro Focus will pay $1 for each Borland share valuing the firm at $75m including cash reserves, a premium of 25 per cent on Borland's closing price yesterday.

The deal is part of strategic move into application testing and quality management and will cost Micro Focus $40m in restructuring costs.

Micro Focus said both deals would be funded by existing cash and a three year revolving overdraft of $175m from Barclays, HSBC, Lloyds and RBS. In UK legal terms the deal is defined as a reverse takeover.

Borland got rid of its application development tools business last year to concentrate on application testing and management.

The company was one of the trail blazers of the PC revolution in the 80s and into the 90s. However, a series of mis-steps - including a tie-up with wannabe suite vendor WordPerfect and an ill-advised, subsequently reversed, name change - hobbled its progress.

According to today's release, Borland lost $204m in 2008, including impairment of goodwill of $185m.

The deals have both been approved by the relevant boards, but still need shareholder and regulator approval.

Releases here and here. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
ONE MILLION people already running Windows 10
A third of them are doing it in VMs, but early feedback focuses on frippery
Sign off my IT project or I’ll PHONE your MUM
Honestly, it’s a piece of piss
Netscape Navigator - the browser that started it all - turns 20
It was 20 years ago today, Marc Andreeesen taught the band to play
Torvalds CONFESSES: 'I'm pretty good at alienating devs'
Admits to 'a metric ****load' of mistakes during work with Linux collaborators
Sway: Microsoft's new Office app doesn't have an Undo function
Content aggregation, meet the workplace ... oh
Do Moan! MONSTER 6-day EMAIL OUTAGE hits Domain Monster
Customers freaked out by frightful service
Ploppr: The #VultureTRENDING App of the Now
This organic crowd sourced viro- social fertiliser just got REAL
Return of the Jedi – Apache reclaims web server crown
.london, .hamburg and .公司 - that's .com in Chinese - storm the web server charts
NetWare sales revive in China thanks to that man Snowden
If it ain't Microsoft, it's in fashion behind the Great Firewall
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.