SiliconBeat

The former Silicon Valley software company Borland has gotten the price offered for it by the British business software developer Micro Focus increased 50 percent. The increase came about thanks to the emergence of a rival bidder Borland identified in a filing last week only as “Company A” k that offered to pay $1.25 a shares, 25 percent above the original Micro Focus offer.

Representatives of “Company A” began inspecting the company’s books last Thursday in Austin, where Borland is now headquartered. They had expected their due diligence would be completed within two weeks.

However, in a filing today with the SEC, Borland reported that the offer from Micro Focus had been increased to $1.50. Borland also reported that the termination penalty if the deal fell through was raised from $4 million to $5.2 million.