Published in DM Review Online in October 2005.|
Printed from DMReview.com
Embarcadero Technologies To Acquire Ambeo
Embarcadero Technologies, Inc., a leading provider of data lifecycle management solutions, and SHC Ambeo Acquisition Corp. (Ambeo), a privately-held leader in database auditing, access and usage monitoring, announced the signing of a definitive agreement in which Embarcadero will acquire all the outstanding shares of Ambeo in a cash merger valued at approximately $6 million.
"Ambeo has become a strong leader in the growing market of data security, a critical part of reducing IT vulnerability and ensuring regulatory compliance," said Raj Sabhlok, Embarcadero's chief financial officer and senior vice president of Corporate Development. "Given our deep expertise in database technologies, the repository for corporate data, data security is a natural extension for Embarcadero and will become a core area of focus that complements our current offerings."
The transaction has been approved by both companies' boards of directors, and Ambeo's board has unanimously recommended to Ambeo's stockholders that they adopt the agreement. The transaction is subject to customary closing conditions, including, among other things, obtaining third party approvals and Ambeo stockholder approval. The merger is expected to close in the fourth quarter of 2005.
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