Borland sells unit CodeGear
The company Borland announced that its unit CodeGear will be sold to the company Embarcadero Technologies.
The unit CodeGear, recall, was formed in 2006 and until today the company is a subsidiary of Borland. CodeGear specializes in integrated development environments (Integrated Development Environment, IDE), such as Delphi, C + + Builder, C # Builder, JBuilder, Turbo and Interbase. CodeGear Company has an independent marketing group and its own research laboratory.
Under the terms of signed agreement, Embarcadero Technologies CodeGear will pay for 23 million dollars. Finish the deal is scheduled before the end of June after receiving approval from the relevant regulatory bodies.
Meanwhile, Borland has published a report on performance in the first quarter of 2008 fiscal year (ended March 31). Borland Revenue for the period from January to March inclusive amounted to 58,3 million dollars. This is about 18% lower than the figure for the first quarter of fiscal year 2007, when Borland income amounted to almost 71 million dollars. In the past quarter Borland has incurred net losses of $ 22.3 million, equivalent to 31 cents per share. A year earlier the company losses amounted to 9.2 million dollars (12 cents per share).
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