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18.01.2005 14:05:00
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Borland Acquires Global Process Consulting Firm to Advance Software De
Borland Acquires Global Process Consulting Firm to Advance Software Delivery Optimization New Process Optimization Practice and Chief Process Officer to Help Customers Capture Maximum Value from Their Software
Borland Software Corporation (NASDAQ:BORL), the global leader for Software Delivery Optimization solutions, today announced the acquisition of TeraQuest Metrics, Inc., a global process consulting firm based in Austin, Texas. The acquisition will enable Borland to create one of the industry's most comprehensive process optimization practices, leveraging TeraQuest's deep experience and proven offerings in CMMI, software improvement, quality assurance and risk management.
"Today's acquisition, our new Process Optimization Practice and the addition of Borland's first Chief Process Officer significantly enhances our ability to bring Software Delivery Optimization to market," said Dale Fuller, CEO and president of Borland Software. "People at TeraQuest were co-authors of the various Capability Maturity Models(R) (CMM(R)), the industry's preeminent guides for process improvement and the standards by which software organizations' capabilities are measured. TeraQuest's consultants and process optimization assets will be an excellent addition to Borland's best-in-class technology."
The process component that TeraQuest brings to Borland's existing Software Delivery Optimization solutions will help organizations more easily align people, processes and technology in the software lifecycle. It is this alignment that can help transform software development from an unpredictable art form into a more managed and repeatable business process.
"TeraQuest has spent the last 12 years partnering with global organizations to strengthen their business and software development processes," said Dr. Bill Curtis, co-founder of TeraQuest and now Borland's Chief Process Officer. "Over the years we've learned that successfully improving a software organization's effectiveness requires the integration of business, development and deployment teams through a seamless process. We're excited to combine our process expertise with Borland's global reach and superior products to offer customers a more complete solution."
"We are seeing increased interest from organizations to drive up productivity and to utilize metrics," states Thomas Murphy, vice president with the META Group. "Vendors that can provide highly productive tools combined with process automation, metrics and training will be best positioned to deliver strong customer value."
Over the years, TeraQuest has provided the Fortune 200 and governments with assessments, consulting, certification, measurement and training to improve software and business operations. TeraQuest will now become a part of Borland's worldwide services organization.
"If we can improve the efficiency and quality of software processes, we can help our customers avoid the extensive cost overruns, rework and delays that are common in today's complex IT environment," said Chris Barbin, Borland's senior vice president of worldwide services. "TeraQuest and Borland united offers customers the unparalleled value of linking process with best-in-class technology."
TeraQuest co-founder and chief scientist, Dr. Bill Curtis, will become Borland's first Chief Process Officer. Dr. Curtis and other TeraQuest executives will work closely with Borland's services and R&D teams to apply TeraQuest's process expertise to Borland's ongoing product development and implementation efforts.
TeraQuest consultants, who average 25 years of industry experience, will join Borland experts to form the company's new Process Optimization Practice. This practice will provide the resources that customers need to develop, extend and deploy software process across the enterprise.
Specific terms of the deal were not disclosed. As a retention mechanism, Borland will issue 86,791 shares of restricted stock and options to purchase an aggregate of 413,000 shares of Borland common stock pursuant to Borland's 2003 Supplemental Stock Option Plan to TeraQuest employees who are now Borland employees.
About Borland
Founded in 1983, Borland Software Corporation (NASDAQ:BORL) is the global leader in Software Delivery Optimization. The company provides the software and services that align the people, processes 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.
All Borland brand and product names are service marks, trademarks or registered trademarks of Borland Software Corporation in the United States and other countries. Capability Maturity Model and CMM are registered trademarks of Carnegie Mellon University. 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. Forward-looking statements may relate to, but are not limited to, Borland's future financial and operating results, benefits and synergies of the transaction, future opportunities for the combined company, the ability of process consultancy to augment software delivery technology, and the growth of the market for process-based software delivery solutions. Such forward-looking statements are based on current expectations that involve a number of uncertainties and risks that may cause actual events or results to differ materially. Factors that could cause actual events or results to differ materially include, among others, the following: rapid technological and business change that can adversely affect the demand for Borland products and services, shifts in customer demand, and the importance customers place in software delivery solutions that leverage process and methodology, delays in actions or announcements by competitors, and difficulty in integrating the operations of the two companies including retention of key employees. These and other risks may be detailed from time to time in Borland 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 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.
--30--MER/sf*
Business Editors/High-Tech Writers
SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--Jan. 18, 2005--
Borland Software Corporation (NASDAQ:BORL), the global leader for Software Delivery Optimization solutions, today announced the acquisition of TeraQuest Metrics, Inc., a global process consulting firm based in Austin, Texas. The acquisition will enable Borland to create one of the industry's most comprehensive process optimization practices, leveraging TeraQuest's deep experience and proven offerings in CMMI, software improvement, quality assurance and risk management.
"Today's acquisition, our new Process Optimization Practice and the addition of Borland's first Chief Process Officer significantly enhances our ability to bring Software Delivery Optimization to market," said Dale Fuller, CEO and president of Borland Software. "People at TeraQuest were co-authors of the various Capability Maturity Models(R) (CMM(R)), the industry's preeminent guides for process improvement and the standards by which software organizations' capabilities are measured. TeraQuest's consultants and process optimization assets will be an excellent addition to Borland's best-in-class technology."
The process component that TeraQuest brings to Borland's existing Software Delivery Optimization solutions will help organizations more easily align people, processes and technology in the software lifecycle. It is this alignment that can help transform software development from an unpredictable art form into a more managed and repeatable business process.
"TeraQuest has spent the last 12 years partnering with global organizations to strengthen their business and software development processes," said Dr. Bill Curtis, co-founder of TeraQuest and now Borland's Chief Process Officer. "Over the years we've learned that successfully improving a software organization's effectiveness requires the integration of business, development and deployment teams through a seamless process. We're excited to combine our process expertise with Borland's global reach and superior products to offer customers a more complete solution."
"We are seeing increased interest from organizations to drive up productivity and to utilize metrics," states Thomas Murphy, vice president with the META Group. "Vendors that can provide highly productive tools combined with process automation, metrics and training will be best positioned to deliver strong customer value."
Over the years, TeraQuest has provided the Fortune 200 and governments with assessments, consulting, certification, measurement and training to improve software and business operations. TeraQuest will now become a part of Borland's worldwide services organization.
"If we can improve the efficiency and quality of software processes, we can help our customers avoid the extensive cost overruns, rework and delays that are common in today's complex IT environment," said Chris Barbin, Borland's senior vice president of worldwide services. "TeraQuest and Borland united offers customers the unparalleled value of linking process with best-in-class technology."
TeraQuest co-founder and chief scientist, Dr. Bill Curtis, will become Borland's first Chief Process Officer. Dr. Curtis and other TeraQuest executives will work closely with Borland's services and R&D teams to apply TeraQuest's process expertise to Borland's ongoing product development and implementation efforts.
TeraQuest consultants, who average 25 years of industry experience, will join Borland experts to form the company's new Process Optimization Practice. This practice will provide the resources that customers need to develop, extend and deploy software process across the enterprise.
Specific terms of the deal were not disclosed. As a retention mechanism, Borland will issue 86,791 shares of restricted stock and options to purchase an aggregate of 413,000 shares of Borland common stock pursuant to Borland's 2003 Supplemental Stock Option Plan to TeraQuest employees who are now Borland employees.
About Borland
Founded in 1983, Borland Software Corporation (NASDAQ:BORL) is the global leader in Software Delivery Optimization. The company provides the software and services that align the people, processes 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.
All Borland brand and product names are service marks, trademarks or registered trademarks of Borland Software Corporation in the United States and other countries. Capability Maturity Model and CMM are registered trademarks of Carnegie Mellon University. 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. Forward-looking statements may relate to, but are not limited to, Borland's future financial and operating results, benefits and synergies of the transaction, future opportunities for the combined company, the ability of process consultancy to augment software delivery technology, and the growth of the market for process-based software delivery solutions. Such forward-looking statements are based on current expectations that involve a number of uncertainties and risks that may cause actual events or results to differ materially. Factors that could cause actual events or results to differ materially include, among others, the following: rapid technological and business change that can adversely affect the demand for Borland products and services, shifts in customer demand, and the importance customers place in software delivery solutions that leverage process and methodology, delays in actions or announcements by competitors, and difficulty in integrating the operations of the two companies including retention of key employees. These and other risks may be detailed from time to time in Borland 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 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.
--30--MER/sf*
CONTACT: Borland Software Corporation Michelle Swan, 408-863-2962 Michelle.swan@borland.com or Zeno Group Julie Supan, 415-369-8102 Julie.supan@zenogroup.com
KEYWORD: CALIFORNIA TEXAS INDUSTRY KEYWORD: HARDWARE SOFTWARE MANAGEMENT CHANGES MERGERS/ACQ SOURCE: Borland Software Corporation
Copyright Business Wire 2005
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