Borland finally sells its CodeGear tools division

After looking for a buyer for two years, Borland Software sells CodeGear to Embarcadero Technologies for about $23 million.

Borland Software has sold its CodeGear development tools division to Embarcadero Technologies for about $23 million, the companies said Wednesday.

CodeGear sells the products that Borland used to be best known for--its JBuilder Java development tool, Delphi, and C++Builder. More recently, CodeGear has created development tools for PHP and Ruby.

Borland Software CEO Tod Nielsen

Two years ago, Borland CEO Tod Nielsen announced a plan to sell off the tools division separate from its application lifecycle management product line. The tools division has been hurt from competition from free, open-source products, notably the Eclipse IDE.

CodeGear products are aimed at individual programmers, while the lifecycle management suite is designed for teams of developers, testers, and architects.

Since then, Borland hadn't been able to find a buyer.

Embarcadero brings in more than $60 million in annual revenue selling database management and design tools. The acquisition gives it access to the millions of developers that use CodeGear software, it said.

Update 7:50 AM Pacific: corrected figure for Embarcadero's annual revenue before its planned acquisition of CodeGear.

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