Wednesday, 7 May 2008

Embarcadero Technologies Acquires CodeGear

Embarcadero Technologies said Wednesday that it has inked an asset purchase deal worth 23 million dollars with Borland Software Corporation to purchase its CodeGear division.

A privately-held company of Thoma Cressey Bravo, Embarcadero said with this acquisition it will be able to address the growing productivity and resource challenges companies face as a result of the collision between the application and database development worlds.

“Today’s announcement is great news for our CodeGear customers, employees, partners and the community at large,” said Jim Douglas, CEO of CodeGear.

“This will give us the resources to be even more aggressive and focused on our core products and markets.”

Embarcadero expects the acquisition to thrust the organisation to become one of the world’s largest, independent software provider offering an integrated portfolio to design, develop, manage and optimize heterogeneous applications and their databases.

According to Embarcadero, its customers and partners will benefit from its ability to help fully integrate their application development lifecycle, automate error-prone tasks and dramatically increase their productivity.

The combined market opportunity for Embarcadero and CodeGear products will represent more than 15 million users worldwide which means Embarcadero will also gain a significantly larger sales footprint to serve millions of software developers, architects, independent software vendors (ISVs) and database professionals worldwide.

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.

“By incorporating its strong product portfolio, Embarcadero will be positioned to expand into new markets and develop cutting-edge products that are a quantum leap for the industry,” said Wayne Williams, CEO of Embarcadero Technologies.

“The combination of our companies will unlock enormous potential for our customers and partners.”

The transaction is expected to close by June 30, 2008 after which the combined companies will operate under the Embarcadero Technologies name.