May 7, 2008

Borland announced today 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.

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