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CodeGear Sold!

Borland Developer Tools is Borland No More...
Wednesday 7 May 2008.
 

The Developer Tools group of Borland - the people who make tools such as JBuilder and Delphi - will henceforth be a part of Embarcadero Technologies, a cross platform database company.

Borland first announced its intention to sell of the Developer Tools group in February 2006 but, in a surprising twist of events, decided to hang onto them in November of the same year. Ever since that date there has been widespread speculation about the future of the group. That speculation has today come to an end with Borland’s announcement of:

”...a definitive agreement to sell the assets of its individual developer tools unit, CodeGear, to Embarcadero Technologies. The purchase price for CodeGear is expected to be approximately $23 million. Borland will also retain CodeGear’s accounts receivables with an approximate value of an additional $7 million. The transaction is expected to close by June 30, 2008.”

Borland’s announcement

On its web site, Embarcadero states :

“Today, we are very pleased to announce that Embarcadero Technologiesİ has signed a definitive agreement to acquire CodeGear™ from Borlandİ Software Corporation. The combined company will operate as a private company with over $100MM in annual revenue and more than 500 employees worldwide. We expect this transaction to close by June 30, 2008. This is an important milestone in the history of software and database development.”

http://www.embarcadero.com/

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