Borland Software authorized to spend $15 million on buying back 2.75% convertibles

By Julie A. Miller

Washington, June 5 - Borland Software Corp.'s board of directors authorized the use of up to $15 million of available cash to repurchase the company's 2.75% convertible senior notes due Feb. 15, 2012.

The purchases may be made within the next six months in open-market or privately negotiated transactions, according to an 8-K filing with the Securities and Exchange Commission.

The Austin, Texas-based company provides technology and consulting services.

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