Sep 8

Written by: Karen Lopez
Friday, September 08, 2006 8:07 AM

Embaracdero Technologies, maker of ER/Studio, DT/Studio, Rapid SQL, and DBArtisan has been bought out by a private investment firm, Thoma Cressey Equity Partners.

EMBARCADERO TECHNOLOGIES, INC. TO BE ACQUIRED BY THOMA CRESSEY EQUITY PARTNERS IN A TRANSACTION VALUED AT APPROXIMATELY $234 MILLION

Shareholders to Receive $8.38 per Share in Cash

San Francisco, CA, September 7, 2006 – Embarcadero Technologies, Inc. (NASDAQ:EMBT), a leading provider of strategic data management solutions, and Thoma Cressey Equity Partners, a leading private equity investment firm, today announced that they have entered into a definitive agreement under which Embarcadero will be acquired by an affiliate of Thoma Cressey Equity Partners in a transaction valued at approximately $234 million.

Under the terms of the agreement, Embarcadero Technologies stockholders will receive $8.38 in cash in exchange for each share of stock. This represents a 34% premium to the average closing price over the past thirty trading days and a 29% premium to our closing price yesterday. The board of directors of Embarcadero Technologies has approved the merger agreement and has recommended to Embarcadero Technologies’ stockholders that they vote in favor of the transaction.

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Thoma Cressey owns other software companies, most notably JDA Software Group.  This purchase also involves the replacement of CEO Stephan Wong.

 

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