M&A Deal Summary

Borland Software Acquires TogetherSoft

On January 1, 2003, Borland Software acquired software company TogetherSoft from TA Associates and Rigel Associates for 185M USD

Acquisition Highlights
  • This is Borland Software’s 1st transaction in the Software sector.
  • This is Borland Software’s largest (disclosed) transaction.
  • This is Borland Software’s 1st transaction in the United States.
  • This is Borland Software’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2003-01-01
Target TogetherSoft
Sector Software
Buyer(s) Borland Software
Sellers(s) TA Associates
Rigel Associates
Deal Type Add-on Acquisition
Deal Value 185M USD

Target

TogetherSoft

Raleigh, North Carolina, United States
TogetherSoft Corporation provides software development technology and services that enable enterprises to create high-quality applications quickly. Together ControlCenter, the flagship product, is the Model-Build-Deploy Platform for building enterprise software applications.

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Buyer(S) 1

Buyer

Borland Software

Austin, Texas, United States
Category Company
Founded 1983
Sector Software
Employees879
DESCRIPTION

Borland Software Corporation develops software development products for application development lifecycle.

DEAL STATS #
Overall 1 of 2
Sector (Software) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (North Carolina) 1 of 1
Country (United States) 1 of 2
Year (2003) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-19 Segue Software

Lexington, Massachusetts, United States

Segue Software, Inc., a specialist in software quality and testing, forms part of Borland’s plans to refocus on its application lifecycle management business.

Buy $100M

Seller(S) 2

SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 84 of 255
Sector (Software) 22 of 55
Type (Add-on Acquisition) 46 of 130
State (North Carolina) 2 of 4
Country (United States) 81 of 206
Year (2003) 1 of 4
Size (of disclosed) 50 of 67
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-29 Workgroup Technology

Lowell, Massachusetts, United States

Workgroup Technology Corporation (WTC) develops, markets and supports WTC ProductCenter™ (formerly CMS), the collaborative product data management solution that provides product content .

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-03-24 Mythic Entertainment

Fairfax, Virginia, United States

Mythic Entertainment, Inc. is a developer of online gaming.

Buy -
SELLER

Rigel Associates

San Mateo, California, United States
Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Rigel Associates is a private equity group focused on investing in profitable companies with opportunities for growth. Rigel looks to invest up to $20 million in businesses with at least $20 million in sales and $3 million of EBITDA. Prospective investments are typically located in the US and Canada and operate in the technology, health & wellness, business services, and clean technology industries. Target transaction situations include management and leveraged buyouts, industry consolidations, follow-on strategic financings, recapitalizations, going private, divestitures, and turnarounds. Rigel Associates is headquartered in San Mateo, California.

DEAL STATS #
Overall 2 of 7
Sector (Software) 2 of 4
Type (Add-on Acquisition) 1 of 5
State (North Carolina) 1 of 1
Country (United States) 2 of 6
Year (2003) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-01 TogetherSoft

Raleigh, North Carolina, United States

TogetherSoft Corporation provides software development technology and services that enable enterprises to create high-quality applications quickly. Together ControlCenter, the flagship product, is the Model-Build-Deploy Platform for building enterprise software applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-09 ZettaCom

Santa Clara, California, United States

ZettaCom, Inc., is a fabless semiconductor company that provides configurable silicon solutions for high-speed, carrier-class networking equipment. ZettaCom's two key product families, switch fabric chips and advanced traffic management chips, allow network system OEMs or switch vendors to design and build out high-performance, next generation switching platforms.

Buy -
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