Thoma Cressey Bravo Completes Acquisition of Embarcadero Technologies and Announces Settlement in Principle of Stockholders' Lit

  
    
  
  
    
      Embarcadero Technologies, Inc. (NASDAQ:EMBT), a leading provider of 
      strategic data management solutions, and Thoma Cressey Bravo, Inc., a 
      leading private equity investment firm, today announced the closing of 
      the previously announced merger between Embarcadero and EMBT Merger 
      Corp., an affiliate of Thoma Cressey Bravo. In the merger, each 
      outstanding share of Embarcadero common stock has been converted into 
      the right to receive $7.20 in cash, without interest. The transaction is 
      valued at approximately $200 million. As a result of the merger, 
      Embarcadero will no longer file periodic reports with the Securities and 
      Exchange Commission and shares of Embarcadero’s 
      common stock will no longer trade on the NASDAQ Global Select Market.
    
    
      Embarcadero also announced today that it has reached an agreement in 
      principle with certain stockholders of Embarcadero that provides for the 
      settlement of each of the three stockholder derivative lawsuits that 
      were filed against Embarcadero relating to Embarcadero’s 
      historical stock option grant practices and related accounting and which 
      also sought to bring direct putative class claims relating to the 
      merger. In connection with this settlement, Embarcadero agreed to make 
      available additional information to its stockholders relating to the 
      merger, which additional information was set forth in definitive 
      additional proxy materials filed by Embarcadero with the Securities and 
      Exchange Commission on June 11, 2007. In return, the plaintiffs agreed 
      to the dismissal of the actions and release of all of the claims 
      asserted in the actions. In addition, Embarcadero agreed to pay the 
      legal fees and expenses of plaintiffs’ 
      counsel, subject to the approval by the respective courts. The details 
      of the settlement will be set forth in a notice following preliminary 
      approval by the respective courts. Defendants deny plaintiffs’ 
      allegations in the actions and agreed to settle the purported derivative 
      claims in order to avoid costly litigation and eliminate the risk of 
      delay to the closing of the merger.
    
    
      About Embarcadero Technologies
    
    
      Embarcadero Technologies, Inc. (NASDAQ:EMBT) delivers professional grade 
      database tools that companies use to design, develop and manage 
      databases and the data they contain. More than 12,000 customers 
      worldwide and over 90 of the Fortune 100 rely on Embarcadero’s 
      cross-platform tools to reduce complexity, improve productivity and 
      strengthen security. The Company’s flagship 
      database tools include: ER/Studio, DBArtisan, Rapid SQL and Change 
      Manager. Founded in 1993, Embarcadero Technologies is headquartered in 
      San Francisco with offices in Melbourne, Australia, Munich, Germany and 
      Maidenhead, United Kingdom. For more information, visit www.embarcadero.com.
    
    
      About Thoma Cressey Bravo
    
    
      Thoma Cressey Bravo, Inc. is a leading private equity investment firm 
      with more than 25 years of experience in building successful companies. 
      The firm has invested in many industry sectors and currently specializes 
      in the software, healthcare, business and financial services and 
      consumer industries. In the software industry, Thoma Cressey Bravo’s 
      portfolio of companies represents total earnings in excess of $400 
      million. The firm currently manages approximately $2 billion of equity 
      capital. For more information on Thoma Cressey Bravo, visit http://www.tcb.com.
    
    
      Embarcadero, the Embarcadero Technologies logos and all other 
      Embarcadero Technologies product or service names are trademarks of 
      Embarcadero Technologies, Inc. All other trademarks are property of 
      their respective owners.