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Technology Stocks : SEGUE (SEGU)

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From: Bargain Hunter	2/8/2006 9:54:08 AM
	of 113

[No posts for over 5 years! Now there's something worth reporting.] Reuters Borland Software to buy Segue in $100 mln deal Wednesday February 8, 7:26 am ET NEW YORK (Reuters) - Borland Software Corp.(NasdaqNM:BORL - News) said on Wednesday it would buy Segue Software Inc.(NasdaqSC:SEGU - News), a maker of software quality and testing systems, in an all-cash deal valued at about $100 million. ADVERTISEMENT Borland said it would pay $8.67 per share and has entered voting agreements with Segue shareholders who own about 21.5 percent of the company. Segue shares closed at $6.92 on Tuesday. Borland expects the deal to be completed in the second quarter. Chief Executive Tod Nielsen said the purchase was part of a strategy to move beyond software development and into the software delivery business. The company said it would also seek a buyer for its integrated development environment (IDE) business. It has hired Bear, Stearns & Co to manage the process.

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