You are most probably talking about CodeGear's Delphi for .net (previous
Borland's, before that Inprise's and before that Borland's).
AFAIK it is a .net compatible language + IDE + some backward compatibility
assemblies.
Delphi is a Object Pascal based language from a division within Borland
Software called CodeGear.
Delphi is a direct decendant of the very popular Turbo Pascal,
Delphi.NET is a version of the compiler that targets the .NET
framework, but unlike the relationship of VB to VB.NET, Delphi for
Native win32 still exists in a separate branch, and code is very
compatable between the 2 compilers (not 100% but close)