eWEEK senior editor Darryl K. Taft spoke with Borland CEO Tod Nielsen and the CEO of CodeGear, Ben Smith.
Why no sale?
Nielsen: After a pretty lengthy and complex process that involved several serious bidders, I determined this was the best plan for shareholders, customers, the developer community and employees.
When we first announced our intent to sell the IDE products back in February, I made it pretty clear what we were looking for the right owner for this group: someone who would be committed to serving our developer community, someone who would continue product innovation, and someone who would offer a sum that matched the value of the business.
The challenge came when we went about separating the two businesses—which have been interlinked for over 23 years—we found that we werent able to adequately separate the financials in a way that demonstrated what we believe to be the true value of these products.
So, we reassessed and decided that it made the most sense for Borland to be the owner and to spin this off as a separate, independent subsidiary.
Although this wasnt our original plan, I think were accomplishing what we set out to do—separating these two businesses so they each can thrive.