From CNET News:

Borland Software has sold its CodeGear development tools division to Embarcadero Technologies for about $23 million, the companies said Wednesday.

CodeGear sells the products that Borland used to be best known for–its JBuilder Java development tool, Delphi, and C++Builder. More recently, CodeGear has created development tools for PHP and Ruby.

Two years ago, Borland CEO Tod Nielsen announced a plan to sell off the tools division separate from its application lifecycle management product line. The tools division has been hurt from competition from free, open-source products, notably the Eclipse IDE.

CodeGear products are aimed at individual programmers, while the lifecycle management suite is designed for teams of developers, testers, and architects.

Since then, Borland hadn’t been able to find a buyer.

Embarcadero brings in more than $60 million in annual revenue selling database management and design tools. The acquisition gives it access to the millions of developers that use CodeGear software, it said.

It’s about time.. Borland is in the Open ALM death throes and CodeGear needs a fresh senior management structure. And since Embarcadero doesn’t have a developer community, I wouldn’t be surprised to find that they’ll happily be expanding the TeamB partnership. So this will no doubt be a win for CodeGear, it’s developer community and Embarcadero itself.

As for Borland… $1.49 and 5 bucks will buy you a third-rate Whopper value meal at Burger King. Thanks for screwing over my shareholder value guys… I really appreciate it…