Borland Software Corporation, the global leader in Open Application Lifecycle Management (ALM), today announced preliminary financial results for the first quarter ended March 31, 2008. Borland also 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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