BORLAND TO ACQUIRE OPEN ENVIRONMENT CORPORATION; Together to Offer Multi-Tier, Scalable Client/Server and Intranet Solutions.
SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--May 13, 1996--Borland International Inc. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BORL) and Open Environment Corporation (NASDAQ:OPEN) today announced they have entered into a definitive merger agreement providing for the acquisition of Open Environment by Borland.
Open Environment, based in Boston, MA, is a leading provider of highly scalable, multi-tier client/server products used by more than 300, Global 1000 corporations.
Under the terms of the agreement, which was approved by the board of directors of both software companies, Open Environment shareholders will receive .51 shares of Borland common stock for each share of Open Environment common stock held by them; provided that the shares issued for each Open Environment share shall have market value of no more than $25 and no less than $12.75. Open Environment has approximately eight million shares and vested options outstanding giving an indicated value of approximately $64 million for the transaction. Borland has approximately 31 million shares outstanding.
"The acquisition of Open Environment is an important part of our strategic plan and is aimed at accelerating our growth in the client/server and Internet markets," said Gary Wetsel, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Borland International. "With this acquisition, we are strengthening our opportunities to serve departmental client/server developers and extending our solutions to the enterprise. The acquisition of Open Environment more than doubles our worldwide client/server sales force and gives us important new client/server and Intranet support, consulting, and education capabilities."
"Multi-tier client/server development is the fastest growing segment of the application development market," said Dr. John Dr. John (also Dr. John Creaux) is the stage name of Malcolm John Rebennack Jr. (born November 21, 1940), a colorful pianist, singer, and songwriter, whose music spans, and often combines, blues, boogie woogie, and rock and roll. Donovan, chairman, Open Environment Corporation, and a professor at MIT MIT - Massachusetts Institute of Technology . "Through the acquisition of Open Environment, Borland will be able to offer its customers a business advantage by providing the only scalable architecture that meets the developer's needs from the desktop to the enterprise, unlike the incomplete solutions of competitive offerings. In addition, Borland's forthcoming visual development tool for Java (code-named Latte) combined with the multi-tier Open Environment technology, will provide the most comprehensive Java Internet solution in the market today."
"We ve been impressed with the growing acceptance of Delphi Client/Server Suite in the Open Environment customers base," said Adam Honig, president, Open Environment Corporation. "We believe that there is a strong operational fit between Borland and Open Environment which should result in better service of our existing customer base and an enhanced ability to reach new customers."
Expanded Client/Server Distribution and Support
Borland plans to leverage Open Environment's North American North American
named after North America.
North American blastomycosis
see North American blastomycosis.
North American cattle tick
see boophilusannulatus. , European and Asian direct sales organizations as well as Open Environment's well developed partnership program which includes over 75 strategic client/server VARs and systems integrators. This partnership program will complement Borland's Premier Value Added Value Added
The enhancement a company gives its product or service before offering the product to customers.
This can either increase the products price or value. Partner Program and result in wider distribution of Borland and Open Environment products worldwide. Open Environment's products will benefit from greater visibility through Borland's client/server seminar programs, direct marketing and broad two-tier distribution.
Borland will also benefit from Open Environment's mature worldwide technical support infrastructure, training and consulting organizations. These capabilities will allow Borland to offer a range of consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.)
service - work done by one person or group that benefits another; "budget separately for goods and services" that assist customers from application design, through pilot projects, development, testing and deployment. "Our client/server business grew 170 percent during the last fiscal year and we recognized the need to quickly expand our infrastructure to provide broader solutions for our customers," said Michael Greenbaum, vice president of Borland's Client/Server Development Tools Group. "Open Environment has many of these programs and services in place as well as an ongoing revenue stream to help support them."
With the acquisition of Open Environment, the founder of multi-tier, client/server architectures, Borland will combine its high-performance, rapid application development tools with Open Environment's scalable, multi-tier solutions, to make it easier for developers to create open, scalable, distributed applications across heterogeneous environments. Borland's robust development tools and Open Environment's second-generation client/server product line work together today without requiring additional engineering effort. In fact, Open Environment has already demonstrated their forthcoming OLEnterprise technologies working with Borland's Delphi Client/Server Suite at trade shows and other industry events.
"Enterprise applications are complex, have a large number of users, have high performance requirements and require support of diverse hardware platforms Each hardware platform, or CPU family, has a unique machine language. All software presented to the computer for execution must be in the binary coded machine language of that CPU. Following is a list of the major hardware platforms in existence today. See platform. ," said Paul Gross For the biologist and author, see Paul R. Gross.
For the Academy of Information Technology and Engineering principal, see Paul L. Gross.
Paul Michael Gross (born April 30, 1959), is a Canadian actor, producer, director, singer and writer born in Calgary, Alberta. , senior vice president of Research and Development at Borland. "Distributed computing (1) The use of multiple computers networked throughout a wide geographical area, or the world via the Internet, in order to solve a single problem. See grid computing.
(2) The use of multiple computers in an enterprise rather than one centralized system. solutions, such as Open Environment's, address these requirements by delivering greater performance, scalability and reliability through a multi-tier architecture. By combining our efforts with Open Environment, Borland will give enterprise developers the benefits of using high-performance, high productivity tools, such as Delphi, that have set the standard in departmental, client/server development."
Completion of the transaction is subject to, among other things, approval of the Open Environment shareholders and the receipt of all required governmental approvals. It is anticipated that the transaction will be tax-free to Open Environment shareholders and accounted for as a pooling of interests Pooling of Interests
An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together.
The opposite of pooling of interests is the purchase acquisition method. . The transaction is expected to be completed later this summer.
Open Environment Corporation
Founded in 1993, Open Environment (NASDAQ:OPEN) pioneered the three-tier client/server A three-way interaction in a client/server environment, in which the user interface is stored in the client, the bulk of the business application logic is stored in one or more servers, and the data are stored in a database server. See client/server. architectures, which has grown to become a de facto [Latin, In fact.] In fact, in deed, actually.
This phrase is used to characterize an officer, a government, a past action, or a state of affairs that must be accepted for all practical purposes, but is illegal or illegitimate. development standard for building scalable enterprise applications. Open Environment's product line includes Entera, an independent framework for building, managing and deploying highly scalable, client/server applications, and OLEnterprise, the industry's first open, distributed object Distributed objects are software modules that are designed to work together, but reside either in multiple computers connected via a network or in different processes inside the same computer. environment based on Microsoft's OLE. For more information, access the Open Environment World Wide Web Site at http://www.openenv.com.
Borland: Making Development Easier
Borland International Inc. (NASDAQ:BORL) is a leading provider of products and services targeted to software developers. Borland is distinguished for its high quality software development tools, which include Delphi, Delphi Client/Server Suite, Borland C++, Visual dBASE See dBASE versions.
(language) Visual dBASE - A Rapid Application Development suite with a compiler and intranet tools to enable developers to publish data on the World-Wide Web. Originally a Borland product, the first version released by dBase, Inc. was Visual dBase 5.7. , Paradox, ReportSmith and InterBase. Borland's award-winning products are supported through comprehensive programs for small- and large-sized software developers, corporate developers, value added resellers See VAR.
(company) value added reseller - (VAR, or "value added retailer") A company which sells something (e.g. computers) made by another company (an OEM) with extra components added (e.g. specialist software). and system integrators. Founded in 1983, Borland is headquartered in Scotts Valley, California Scotts Valley is a small city located in eastern Santa Cruz County, California, United States, about ten miles (16 km) south of San Jose and six miles (10 km) north of the beach in the upland slope of the Santa Cruz Mountains. As of the 2000 census, the city population was 11,385. . -0-
NOTE TO EDITORS: Copies of previous Borland press releases and additional corporate and product information are available on Borland's Internet World Wide Web (WWW WWW or W3: see World Wide Web.
(World Wide Web) The common host name for a Web server. The "www-dot" prefix on Web addresses is widely used to provide a recognizable way of identifying a Web site. ) site, at http://www.borland.com.
CONTACT: Borland International Inc.
Knox Richardson, 408/431-1201
Open Environment Corporation
Maureen MacGregor, 617/562-5885