Micro Focus closes in on Borland

Micro Focus shareholders have given acquisition the green light

Micro Focus set to acquire Borland

Shareholders of software development tools maker Borland have approved a $113m (£68m) takeover by rival Micro Focus.

A vote by Borland shareholders was carried easily yesterday, with 99 per cent voting yes.

On Monday both companies agreed a settlement in a class action lawsuit brought against Borland in the US.

The final hurdle is a Micro Focus general meeting to be held on 24 July to approve the takeover.

Best known for C++Builder, Delphi and JBuilder, struggling Texas-based software firm Borland sold off its software tools arm CodeGear in April 2008.

Micro Focus shares rose sharply after the vote, up over 12 per cent.