Borland To Pay $185 Million In Cash And Stock For TogetherSoft

Dale Fuller, president and CEO of Borland, said in a statement that TogetherSoft's technology will be integrated with Borland's own development tools. Lines from both companies will be supported after the merger, notably the Borland JBuilder series and TogetherSoft's Together ControlCenter product lines. Over the next 12 months, product lines from both companies will be evolved to conform to a common development platform, the statement said. Borland still plans to support other vendors of software and design analysis tools.

"Competitive pressures and time-to-market demands continue to compress the development process, making comprehensive integrated solutions more important than ever," Fuller said in the statement.

"TogetherSoft and Borland combined would be a powerful force in connecting programmers, designers and managers in realtime--code, design and project plans always up-to-date, always in sync," said TogetherSoft founder and Chairman Peter Coad in a statement.

TogetherSoft, which has its headquarters in Raleigh, N.C., has 390 employees worldwide. It has generated $51 million in revenue during the last four quarters, according to a statement describing the merger pact.

The acquisition, based on Borland's share price at the close of trading on Oct. 29, is valued at approximately $185 million, including $82.5 million and 9.05 million shares of Borland common stock. The transaction is scheduled to close in the fourth quarter, the companies said.