The Collaborative International Dictionary of English v.0.48:

Embrace \Em*brace"\, v. t. [imp. & p. p. Embraced
   ([e^]m*br[=a]st"); p. pr. & vb. n. Embracing
   ([e^]m*br[=a]"s[i^]ng).] [OE. embracier, F. embrasser; pref.
   em- (L. in) + F. bras arm. See Brace, n.]
   1. To clasp in the arms with affection; to take in the arms;
      to hug.
      [1913 Webster]

            I will embrace him with a soldier's arm,
            That he shall shrink under my courtesy. --Shak.
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            Paul called unto him the disciples, and embraced
            them.                                 --Acts xx. 1.
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   2. To cling to; to cherish; to love. --Shak.
      [1913 Webster]

   3. To seize eagerly, or with alacrity; to accept with
      cordiality; to welcome. "I embrace these conditions." "You
      embrace the occasion." --Shak.
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            What is there that he may not embrace for truth?
                                                  --Locke.
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   4. To encircle; to encompass; to inclose.
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            Low at his feet a spacious plain is placed,
            Between the mountain and the stream embraced.
                                                  --Denham.
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   5. To include as parts of a whole; to comprehend; to take in;
      as, natural philosophy embraces many sciences.
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            Not that my song, in such a scanty space,
            So large a subject fully can embrace. --Dryden.
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   6. To accept; to undergo; to submit to. "I embrace this
      fortune patiently." --Shak.
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   7. (Law) To attempt to influence corruptly, as a jury or
      court. --Blackstone.

   Syn: To clasp; hug; inclose; encompass; include; comprise;
        comprehend; contain; involve; imply.
        [1913 Webster]

WordNet (r) 3.0 (2006):

embracing
    n 1: the act of clasping another person in the arms (as in
         greeting or affection) [syn: embrace, embracing,
         embracement]

Moby Thesaurus II by Grady Ward, 1.0:

32 Moby Thesaurus words for "embracing":
   adoption, ambient, assimilating, circling, circumambient,
   circumferential, circumflex, circumfluent, circumfluous,
   circumjacent, comprising, containing, counting, covering,
   embracement, encircling, enclosing, encompassing, enfolding,
   enveloping, environing, envisaging, including, inclusive,
   incorporating, neighboring, numbering, peripheral, roundabout,
   suburban, surrounding, wrapping