The corrected release reads:
IDERA ANNOUNCES INTENT TO ACQUIRE EMBARCADERO, EXPANDS POSITION IN DATABASE MANAGEMENT AND DEVELOPER TOOLS MARKETS
Idera, the leading provider of database and infrastructure management software, today announced an agreement to acquire Embarcadero Technologies, a market leader of software for database management and application development. The deal is expected to close in mid-October, subject to normal closing conditions and approvals.
Embarcadero’s award-winning software tools help application developers and database professionals design systems correctly, accelerate delivery and improve ongoing performance, regardless of platform or programming language. Ninety of the Fortune 100 and a community of more than three million global users rely on Embarcadero software products to increase productivity, reduce costs, simplify change management, and support security and compliance.
“Embarcadero is really two great businesses,” said Randy Jacops, CEO of Idera. “Embarcadero’s database product portfolio expands Idera’s focus on world-class solutions to simplify and accelerate DBA productivity. The application performance tools deliver similar business benefits to an entirely new community of users working to build great solutions for customers. Together, Idera and Embarcadero focus on driving value for users on the front lines of innovation.”
“We are delighted to join forces with Idera, particularly given the company’s long-standing commitment to innovation and customer success,” said Wayne Williams, CEO of Embarcadero. “Embarcadero invested the last several years in building out complete solutions to dramatically transform our customers’ innovation capability, and Idera will continue to advance that value equation. Idera’s ability to take the story to market will ensure broader and deeper customer relationships.”
Embarcadero’s multi-platform database management products combined with Idera’s deep SQL database performance management expertise will create the most comprehensive portfolio of database management solutions in the market. Customers and partners of the two companies will benefit from the acquisition through the combined goals of:
- Excellent customer service
- High quality software
- Ease of use
- Application speed
“Delivering products that excite customers requires a diligent focus on simplification, from install to operations to upgrades,” said Chris Smith, COO of Idera. “Our focus on near-instant time-to-value from our paid tools, combined with a robust portfolio of free tools, will expand customer attention on the combined company.”
“A year ago, we partnered with Idera’s management to provide the capital and resources to support their growth vision,” said Hythem El-Nazer, a Director with TA Associates and Idera’s Chairman of the Board. “This is a transformational acquisition that enables Idera to further meet the needs and demands of its customers with greater scale, a broader portfolio and the global reach their businesses require. We are excited about acquiring Embarcadero and see significant opportunity for additional strategic acquisitions in both the database and application businesses.”
Jefferies & Co. acted as financial advisor and Goodwin Proctor LLP as legal advisor to Embarcadero. Kirkland & Ellis LLP and Horzepa Spiegel & Associates PC acted as legal advisors to Idera. Terms were not disclosed.
Idera is the market leader in Database-Intelligent Infrastructure Performance Management, empowering IT Ops professionals to monitor and manage data center environments with complete confidence. We know what clients want: uptime, data security and precise issue resolution. That’s why Idera empowers IT Professionals to keep data centers up and running 24/7 with proactive notifications and updates. From broad dashboards to detailed drill-downs, we give IT a better view of their environment to enhance performance and resolve issues before they impact users. We put the power back into IT’s hands with the tools they need to optimize performance and ensure uptime. Manage your IT with confidence. Manage your IT with Idera. To learn more, please visit www.idera.com.
Embarcadero Technologies, Inc. is a leading provider of award-winning tools for application developers and database professionals so they can design systems right, build them faster and run them better, regardless of their platform or programming language. Ninety of the Fortune 100 and an active community of more than three million users worldwide rely on Embarcadero products to increase productivity, reduce costs, simplify change management and compliance, and accelerate innovation. Founded in 1993, Embarcadero is headquartered in San Francisco, with offices located around the world. To learn more, please visit www.embarcadero.com.