Micro Focus announced a $75m cash offer for Borland last month but since then it has emerged that the rival bidder has since walked away but to secure its planned acquisition the sum of $88m is now on the table.
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The unnamed bidder had indicated that it was prepared to pay $1.20 a share compared to the original bid of $1 a share from Micro Focus.
But with a revised bid of $88m, equivalent to $1.15 a share, Micro Focus looks set to have headed off the prospect of another rival.
At the start of the month Micro Focus completed its acquisition of the application testing and automated software quality business of Compuware.
Both the Borland and parts of the Compuware operation were designed to strengthen Micro Focus's position in the application management market.