He had been playing for Corby Town last season after being released by Chris Coleman in April 2008.
Nuneaton born Hildreth had come through the Academy ranks to play for City Reserves and made one first team appearance.
He will team up with another former City Academy player Liam Nicell who joined Brackley from Rugby Town.
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Gavin Strachan could be signing for Corby Town. The midfielder was not given a new contract by Notts COunty and is currently out of work.
Strachan, who is heading towards a career in journalism, made sixteen appearances for City. He is expected to play in a midweek friendly for Corby and will team up with former City youngster Callum Burgess who is at the club.
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