Embarcadero Buyout Canceled

Embarcadero Technologies Inc. (Nasdaq: EMBT), a San Francisco-based provider of strategic data management solutions, has canceled its proposed acquisition by Thoma Cressey Equity Partners. The deal had been valued at approximately $234 million, or $8.38 per share (29% premium to the closing price prior to the announcement). Neither side will pay termination fees. No formal reason was given for the deal cancellation, although Embarcadero did recently disclose evidence of backdating stock options, and the resulting need to restate its historical financial statements. www.thomacressey.com www.embarcadero.com