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Embarcadero picks up CodeGear assets


By P J Connolly
May 7, 2008 —  The two-year effort to find a home for CodeGear is in the home stretch with the announcement of a sale.

Today, Embarcadero Technologies announced that it had struck a deal with Borland Software to acquire the latter’s CodeGear division, at a price of roughly US$23 million. The combined companies will operate under the Embarcadero Technologies banner after the close of the deal, expected in 30 to 60 days, according to Embarcadero.

CodeGear will bring the C++Builder, Delphi and JBuilder product lines and new tools for PHP and Ruby into Embarcadero’s stable, joining an already respectable line of database tools.

“Today’s announcement is great news for our CodeGear customers, employees, partners and the community at large,” said CodeGear CEO Jim Douglas in a prepared statement. He added that he expects the deal to give CodeGear the resources to be aggressively focused on its core markets and products.

Embarcadero will acquire CodeGear’s assets, except for accounts receivable, which Borland will retain; that figure is in the neighborhood of $7 million, according to the announcement. Embarcadero is a privately held company of investment firm Thoma Cressey Bravo.


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