To embrace something is to welcome it with open arms, hold, hug, accept completely. You might embrace your sweetheart, or even changes in technology.
Embrace is from the French verb embrasser, which started out meaning "to clasp in the arms" (but now includes kissing). You embrace someone by giving her a giant hug, and when you embrace a new idea, it's like your brain gives it a hug. The noun and verb form are similar: If you embrace someone who isn't your sweetheart, you might get caught in an embrace. In Henry IV, Shakespeare writes about a really, really tight embrace: "I will embrace him with a soldier's arm/That he shall shrink under my courtesy."