Embarcadero shareholders approve merger with private equity firm

By Lisa Kerner

Charlotte, N.C., June 22 - Embarcadero Technologies, Inc. stockholders approved the acquisition of the company for $7.20 per share by affiliates of Thoma Cressey Bravo, Inc. at a special meeting held on Friday. The companies announced a definitive agreement on April 6.

The number of shares voting to adopt the merger agreement represents 74.3% of the total number of shares outstanding and entitled to vote at the meeting, a company news release stated.

Embarcadero said it expects to complete the merger transaction, valued at some $200 million, on June 25. The data management company is based in San Francisco.

Thoma Cressey Bravo is a private equity investment firm.

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