NASDAQ: BORL1.21   0 (0%)  

A privately-held company of Thoma Cressey Bravo, Embarcadero Technologies, has 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.
The acquisition of the CodeGear business is expected to make Embarcadero the world’s largest, independent software provider offering an integrated portfolio to design, develop, manage and optimize heterogeneous applications and their databases. Customers and partners will benefit from Embarcadero’s ability to help fully integrate their application development lifecycle, automate error-prone tasks and dramatically increase their productivity.

In addition, Embarcadero gains a significantly larger sales footprint to serve millions of software developers, architects, independent software vendors (ISVs) and database professionals worldwide. The combined market opportunity for Embarcadero and CodeGear products will represent more than 15 million users worldwide and is expected to grow by up to 10 percent annually, according to industry reports.

CodeGear serves a range of Java and Windows developers through its award-winning JBuilder, Delphi and C++Builder product lines, as well as a new generation of web developers with its innovative products for the PHP and Ruby languages.