Borland Software Corporation recently announced that it had acquired privately held Redline Software, Inc, known as VMGEAR, the developer of OptimizeIt Suite.
The all-cash transaction involves three components:
(1) a $2 million payment at closing;
(2) $6 million in retention payments over a three-year period; and
(3) additional earn out payments over a three-year period contingent upon future revenues derived from the sale of Redline Software products and the retention of certain employees of VMGEAR.
Based in San Jose, California, VMGEAR provides the OptimizeIt Suite, comprised of performance assurance and testing solutions for Java developers. OptimizeIt customers include software development teams at Fortune 500 companies, global systems integrators, and leading software start-ups.
The OptimizeIt Suite delivers highly scalable, easy-to-use performance assurance and testing solutions that integrate seamlessly with leading application servers and development environments. OptimizeIt Suite provides improved speed and reliability of applications across the J2EE, J2SE, and J2ME platforms. It is currently anticipated that VMGEAR`s operations will move into Borland`s corporate headquarters in Scotts Valley.
"Borland`s acquisition of VMGEAR follows our November product announcement focused on driving Java into the mainstream of enterprise development," stated Dale L Fuller, Borland`s president and chief executive officer. "The OptimizeIt Suite should help new Java developers become more efficient and effective. We believe this acquisition will also increase the size of our customer base and further strengthen our Java R&D capabilities. We anticipate that the OptimizeIt products will further enhance and expand our Java sales as either standalone performance solutions or with the market-leading Borland JBuilder development environment for Java."
"Our customers have seen significant improvements in developer productivity by using the OptimizeIt Suite," said Eric Muller, president and chief executive officer of VMGEAR. "Because performance assurance is becoming an integral step in the development of Java enterprise applications, selling the OptimizeIt products with JBuilder makes great sense for Java developers."
For further information, please contact Borland Southern Africa on telephone (011) 880-1002, or fax (011) 447-6082, or visit the local or international Web sites www.borland.co.za or www.borland.com.
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