FOR IMMEDIATE RELEASE
SCOTTS VALLEY, Calif. -- February 13, 1995 -- Borland International Inc. today announced the sale of its consumer software products -- Sidekick for Windows and Dashboard for Windows -- to Starfish Software, a new company headed by Philippe Kahn, who is also Borland's chairman. Consistent with the company's previously announced strategy to focus on software developers, Borland will discontinue its Simplify consumer products division.
The transaction, terms of which were not disclosed, is subject to certain closing conditions. As part of the transaction, Borland will receive a minority equity position in Starfish Software, but will not be involved in management or operational aspects of the venture. In addition, a majority of Borland Simplify's 35 employees will be offered positions with Starfish Software.
"Borland's strategic focus is on the software developer market, and the Borland Simplify division was clearly not consistent with our long-term plans," said Gary Wetsel, president, Borland International. "This agreement accomplishes several important objectives. First, it allows us to dedicate 100 percent of our resources to creating and marketing leading-edge products for software developers and it provides an exciting future for Sidekick and Dashboard customers. In addition, our equity in Starfish provides a potential long-term benefit."
"This is a great deal for Borland because it is exactly in line with the strategic re-focus it has begun," said David Coursey, editor and publisher of P.C. Letter, a leading PC industry newsletter. "Delphi, Borland's new object-oriented, visual development tool, showcased last week at Demo 95, is exactly the type of product Borland does best. Spinning off Sidekick and Dashboard to a consumer- focused company is a logical move which will provide growth opportunities for both companies."
Effective immediately, Starfish Software will assume responsibility for supporting Sidekick and Dashboard customers as well as contractual obligations. Borland will continue to provide certain services, such as warehousing, for a transition period. As part of the agreement, Borland retains the rights to bundle Sidekick and Dashboard with its other products through September 1995.
Philippe Kahn remains chairman of Borland's board of directors and will continue to serve in an advisory role in long-term strategic planning and technology vision. Separately, he will also serve as chairman of Starfish Software.
About Starfish Software
Starfish Software is a new software venture headed by Philippe Kahn which is focused on developing a new line of high-quality, simple but powerful tools to help people around the world use their personal computers to become better organized and more productive. Starfish Software has been operating out of temporary headquarters in Scotts Valley, California, and next month will move into new offices in Santa Cruz, California. The company currently has eight employees and plans to add more next week as members of the Borland Simplify product team move to Starfish Software.
About Borland International
Borland International Inc. (NASDAQ:BORL) is a leading provider of products and services targeted to software developers. Borland is distinguished for its high-quality software development tools, which include Borland C++, dBASE, Paradox and Borland Pascal. Borland's award-winning products are supported through comprehensive programs for small- and large-sized software developers, corporate developers, value added resellers and systems integrators. Founded in 1983, Borland is headquartered in Scotts Valley, California.
Borland Contact:
Steve Grady
Borland International Inc.
(408) 431-1621
Internet: sgrady@wpo.borland.com
Fred Holland
Holland-McAllister PR (For Starfish Software)
(415) 638-2320