Key Developments For Borland Software Corporation
Borland Software Corporation Delists From NASDAQ-Stock Exchange
The Stock Exchange reported that Borland Software Corporation has been delisted from NASDAQ.
Micro Focus International plc Completes Acquisition Of Borland Software Corporation
Micro Focus International plc announced that it has completed the acquisition of Borland Software Corporation. The Acquisition, when combined with the Application Testing / Automated Software Quality (ASQ) business acquired from Compuware Corporation on June 1, 2009, gives Micro Focus a market position in the highly complementary Application Testing / ASQ market. This market is estimated to be worth US$2 billion a year and is logically adjacent to Micro Focus' core application management and modernization business. Both acquisitions meet Micro Focus' strict financial acquisition criteria. The integration of the Compuware Application Testing / ASQ business is progressing well and it is intended that Borland will also be rapidly integrated into the Group over the coming months.
Borland Software Corporation Introduces Borland Silk 2009
Borland Software Corporation announced the Borland Silk 2009, a comprehensive Quality Assurance (QA) solution designed to support the testing needs of both Agile and traditional development teams by simplifying testing activities, increasing the speed of test execution and integrating with a customer`s existing test tools and frameworks to provide a consolidated view of quality across the software delivery lifecycle.
Micro Focus International plc And Borland Software Corp. Shareholder Meetings To Be Held; Settlement Of Class Action Borland
Micro Focus International plc announced that it published its circular on June 24, 2009, and its prospectus on June 30, 2009 relating to the proposed acquisition of Borland Software Corporation (Borland) 9Acquisition). The circular and the prospectus provided details of litigation which may have had a significant effect on the financial position or profitability of the Micro Focus group, being a putative class action lawsuit filed in Texas, USA against Borland, Micro Focus and others. The lawsuit was filed on the alleged grounds that the proposed merger consideration was unfair and that the proposed Acquisition was to be effected by means of an unfair process. Accordingly, Borland announced on July 17, 2009 that it, its directors and Micro Focus have reached an agreement in principle with the plaintiffs providing for the settlement of the litigation. The settlement amount is immaterial, and will not affect the merger consideration to be paid to shareholders of Borland in connection with the proposed Acquisition. In addition, the settlement has no material impact on the strict financial criteria applied by Micro Focus in relation to the Acquisition. The Micro Focus General Meeting to approve the Acquisition will be held on July 24, 2009, at The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN. Subject to approval by the shareholders of Borland and of Micro Focus, the Acquisition is expected to close shortly thereafter.
Micro Focus International plc Announces Increased Cash Offer For Borland Software Corporation
Micro Focus International plc announced that it has increased its fully funded cash offer to $1.50 for each outstanding share of Borland Software Corporation (Borland). This values the acquisition of Borland's equity, on a fully diluted basis, at approximately $113 million. The terms of the revised offer have been unanimously approved by the Board of Directors of both Micro Focus and Borland.
