The new operation, known as CodeGear, will be responsible for the development of Borland's IDE (integrated development environment) business, which includes Developer Studio, JBuilder, Turbo and InterBase.
"After much consideration, we made the decision to establish CodeGear as a separate subsidiary," Tod Nielsen, Borland president and chief executive, said in a press release. "We have always stated our intention to find the right buyer for this business--one who was committed to our developer community, who would continue innovation in our products and who would offer a sum that matched the value of the business."
According to Nielsen, Borland will be focused on the application life cycle management, or ALM, market, while CodeGear will be focused on software development.
The new subsidiary will be led by Ben Smith, who was appointed its chief executive. It is expected that some of Borland Australia's team will be moved into the new company.
Brendon Chase of Builder AU reported from Sydney.
