Micro Focus battles mystery bidder for Borland
Summary
The sudden interest in Borlands application lifecycle management tools has almost doubled the companys value in the two months since the bidding war began. Micro Focus raised its offer to $1.15 on 16 June, and Company A responded seven days later with a bid of $1.25 per share, according to Borlands SEC filings. In the latest twist, Micro Focus raised its bid to $1.50 per share on Tuesday, according to papers filed with the SEC on Wednesday. It sold Codegear, the software development tools division that published JBuilder, to Embarcadero Technologies for $30 million in May last year, then in January it lost its CEO Tod Nielsen to VMware, where he became chief operating officer. Based on figures for the year to 31 March, the former Compuware business will bring Micro Focus an additional $74 million slice of that market, alongside the revenues from its existing automated software quality product, Data Express.
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