Borland sells CodeGear
Borland has found a buyer for its development tools subsidiary CodeGear, which has been the brand behind products like Delphi and the JBuilder Java IDE for some time now. The new owner is Embarcadero, a California software house that up to now has mainly focused on tools for the development and administration of databases. Embarcadero is paying around $23m for CodeGear; Borland will also be retaining some $7m in its subsidiary's income. The deal is expected to be signed by the end of June.
At the end of 2006, Borland redefined its core business and has since been concentrating on the development of tools for Application Lifecycle Management. Developer tools were simultaneously put into a separate division with the aim of a spin-off. When no buyer could be found, CodeGear was founded as an independent subsidiary of Borland.