"Embarcadero Technologies, a privately-held company of Thoma Cressey Bravo,
today announced that they signed a definitive asset purchase agreement
with
Borland Software Corporation (NASDAQ: BORL) to purchase its CodeGear
division.
The transaction is expected to close in 30 to 60 days. By combining the
market leaders in development tools and database tools, Embarcadero will
be
able to address the growing productivity and resource challenges companies
face as a result of different applications and diverse database platforms.
With more than $100 million in annual revenue and over 500 employees
worldwide, the combined companies will operate under the Embarcadero
Technologies name."
