Icon Gone: Borland Takes $1/Shr Bid From Micro Focus

Borland Software (BORL) this morning agreed to be acquired by U.K.-based Micro Focus International for $1 a share in cash, or about $75 million. It’s a quiet end for an iconic company that once ranked among the largest desktop software companies. With co-founder Philippe Khan at the helm in the early 90s, its Quattro Pro spreadsheet software took on mighty Lotus 1-2-3; the stock in early 1992 peaked a little north of $80 a share, not long after the company bought another ealry ’90s software icon, dBase developer Ashton-Tate.

In recent months, the company has focused on “application lifecycle management.”

Also this morning, Micro Focus agreed to acquire Compuware’s (CPWR) Business Service Delivery Unit for $80 million.

BORL this morning is up 16.7 cents, or 20.9%, to 96.7 cents. CPWR is down 20 cents, or 2.7%, to $7.26.