Embarcadero Technologies Inc., a privately-held company of Thoma Cressey Bravo, said it completed the acquisition of CodeGear from Borland Software Corp. (BORL) for approximately $24.5 million on June 30.
CodeGear will be integrated into Embarcadero Technologies, which will continue to operate as a private company under the leadership of current Embarcadero Chief Executive Officer Wayne Williams.
Due to the acquisition, Embarcadero is expected to operate with more than $100 million in annual revenue and over 500 employees worldwide. Further, Embarcadero will support CodeGear's customers and partners and will evolve and deepen the functionality of CodeGear's existing product lines. Embarcadero's professional database tools will be marketed under the DatabaseGear brand, and its application developer tools will be encompassed under the CodeGear brand.
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