Borland Completes Acquisition of Segue Software; Company Broadens Application Lifecycle Management Suite to Simplify and Automa
20 April 2006 - 11:00PM
Business Wire
Borland Software Corporation (NASDAQ:BORL), the global leader for
Software Delivery Optimization (SDO), today announced the
completion of its previously announced acquisition of Segue
Software, Inc. (NASDAQ:SEGU), a global expert in delivering
solutions to define, measure, manage and improve software quality.
Together, Borland and Segue offer enterprises a comprehensive set
of Application Lifecycle Management (ALM) products and services
designed to improve software quality and make software development
a more manageable and successful business process. "The process of
managing and ensuring software quality is a critical but complex
issue, and organizations are looking to industry leaders like
Borland to help them reduce complexity and improve predictability
within this process," said Tod Nielsen, president and chief
executive officer, Borland Software. "With Segue's talented people
and best-of-breed products, we are well positioned to change the
way our industry looks at software quality -- making quality a
priority not just for testers and Quality Assurance teams but for
every individual involved in delivering high-value software."
"Borland's acquisition (of Segue) is good news as a true
application lifecycle management (ALM) solution must not merely
support testing, but fully integrate it," stated Forrester analysts
Carey Schwaber and Carl Zetie in a February 2006 research
report(1). "One of the key benefits driving demand for ALM
solutions is traceability, a key component of regulatory compliance
requirements. Without Segue, Borland's ALM solution can help shops
correlate business requirements with software requirements, models
and source code. But Segue helps Borland to make this a wrap: By
extending traceability to testing, shops can now close the loop by
testing code against their associated requirements." Borland has
begun the process of integrating its ALM products with Segue's
award-winning Silk and SilkCentral(R) product lines, forming the
foundation for Borland's Lifecycle Quality Management solution
which the company expects to deliver later this year. This solution
is expected to help customers solve the root cause of quality
issues, identifying problems from the very beginning versus
reacting to symptoms later in the process when they are more
costly. Lifecycle Quality Management is one of the four critical
software development processes that Borland is addressing as part
of its Software Delivery Optimization vision. Borland is committed
to helping customers master these critical process areas through
packaged solutions that combine the company's ALM products, its
industry-leading process optimization services, and education and
skills training. Already Borland has delivered solutions for IT
Management and Governance, Requirements Definition and Management
and Change Management. Former Segue Software stockholders will
receive a payment of $8.67 per share in cash. Borland will be
mailing materials shortly to former Segue stockholders regarding
the exchange of such stockholders' shares of Segue common stock for
the cash merger consideration. About Borland Founded in 1983,
Borland Software Corporation (NASDAQ:BORL) is the global leader in
platform independent solutions for Software Delivery Optimization.
The company provides the software and services that align the
people, process, and technology required to maximize the business
value of software. To learn more about delivering quality software,
on time and within budget, visit http://www.borland.com. Borland,
SilkCentral and all other Borland brand and product names are
service marks, trademarks or registered trademarks of Borland
Software Corporation in the United States and other countries. All
other marks are the property of their respective owners. Safe
Harbor Statement This release contains "forward-looking statements"
as defined under the Federal Securities Laws, including the Private
Securities Litigation Reform Act of 1995 and is subject to the safe
harbors created by such laws. All statements that are not
historical are forward-looking. Such forward-looking statements
include statements regarding the strategic focus of the combined
company, near-term and long-term outlook, benefits and synergies of
the proposed combination, and future product offerings by the
combined company. Actual results could differ materially from those
contained in the forward-looking statements and are based on
current expectations that involve a number of risks and
uncertainties, including, but not limited to, the reaction of
customers to the acquisition; the reaction by competitors to the
proposed acquisition and the potential for increased pricing
pressure by such competitors; Borland's ability to successfully
integrate Segue's operations and employees; costs associated with
the acquisition and Borland's ability to manage its expenses
following the closing; Borland's reduced cash position following
the acquisition; diversion of management attention from other
business concerns due to the proposed transaction; undisclosed or
unanticipated liabilities and risks resulting from the proposed
transaction; our ability to sell multi-product solutions for the
application development lifecycle; the effects of a longer sales
cycle as we increase our focus on larger enterprise customers;
market acceptance and adoption of our products and services
including our enterprise software development solutions; our
ability to enhance the quality and scalability of our products to
meet the needs of our customers; our ability to retain key
personnel and hire new leaders to support our business transition;
and general industry trends, general economic factors and capital
market conditions. These and other risks may be detailed from time
to time in Borland's periodic reports filed with the Securities and
Exchange Commission, including, but not limited to its latest
Annual Report on Form 10-K, and its latest quarterly report on Form
10-Q, copies of which may be obtained from http://www.sec.gov.
Borland is under no obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements
whether as a result of new information, future events or otherwise.
Information contained in our website is not incorporated by
reference in, or made part of this press release. (1)Forrester
Research, "Borland Picks Up Testing Tools, Drops Its IDEs,"
February 2006
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