Scotts Valley, California-based Borland International Inc has a letter of intent to acquire ReportSmith Inc, San Mateo developer of the ReportSmith client-server reporting and query tool for the Microsoft Corp Windows operating environment for 1.2m new shares worth $18m. ReportSmith is installed in over 500 companies worldwide, and is designed to enable personal computer users to access corporate databases and create commercial quality reports quickly and easily. It is claimed to be the only client-server reporting tool to use a live data approach, presenting live data on the screen that can be formatted and edited interactively. Most of the acquisition price will have to be written off against profit.
