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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