Progress Software - M&A Summary and Business Overview

SoftwareCompany

Progress Software M&A Summary

Progress Software has acquired 25 companies, including 6 in the last 5 years. A total of 8 acquisitions came from private equity firms. It has also divested 5 assets.

Progress Software’s largest acquisition to date was in 2024, when it acquired ShareFile for $875M. Progress Software has acquired in 9 different US states, and 5 countries. The Company’s most targeted sectors include software (71%) and internet software and services (21%).

Progress Software Business Overview

Where is Progress Software headquartered?

Progress Software is headquartered in Bedford, Massachusetts.

What is Progress Software’s revenue?

Progress Software disclosed revenue of 694M USD for 2023 and 602M USD for 2022.

How many employees does Progress Software have?

Progress Software has 2,284 employees.

What sector is Progress Software in?

Progress Software is a software company.

When was Progress Software founded?

Progress Software was founded in 1981.

M&A Summary

  • M&A Total Activity29
    • M&A Buy Activity24
    • M&A Sell Activity5
  • Total Sectors Invested 4
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 14
  • M&A Advisors 5

Progress Software

Progress Software Corp.

15 Wayside Road Suite 400,
Bedford, Massachusetts 01803
United States,
(781) 280-4000
www.progress.com

Progress Software is a software company that simplifies the development, deployment and management of business applications on-premise or in the cloud, on any platform or device, to any data source, with enhanced performance, minimal IT complexity and low total cost of ownership. Progress Software was founded in 1981 and is based in Bedford, Massachusetts.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.8/yr) # 20 1 1 - 1 1 24
vol $931M $220M $258M $355M $875M $2.6B
Sell (0.0/yr) # 5 - - - - - 5
  29

Most Recent M&A

Company Date Value Type
ShareFile 2024-09-09 875M USD Divestiture
Raleigh, North Carolina · www.sharefile.com
MarkLogic Corp. 2023-01-03 355M USD Add-on Acquisition
Redwood City, California · www.marklogic.com
KEMP Technologies, Inc. 2021-09-23 258M USD Add-on Acquisition
Melville, New York · www.kemptechnologies.com
Chef Software, Inc. 2020-09-08 220M USD Add-on Acquisition
Seattle, Washington · www.chef.io
Rollbase, Inc. 2019-05-20 - Divestiture
Saratoga, California · www.rollbase.com
Ipswitch, Inc. 2019-03-28 225M USD Add-on Acquisition
Burlington, Massachusetts · www.ipswitch.com
Kinvey, Inc. 2017-06-28 49M USD Add-on Acquisition
Boston, Massachusetts · www.kinvey.com
DataRPM Corp. 2017-03-29 30M USD Add-on Acquisition
Redwood City, California · www.datarpm.com
OneBit Software 2016-08-01 - Add-on Acquisition
Sofia, Bulgaria · www.onebitsoftware.net
Telerik AD 2014-10-22 263M USD Add-on Acquisition
Sofia, Bulgaria · www.telerik.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Software 17 (71%) 1.6B (61%) 4 (80%) -
Internet Software and Services 5 (21%) 933M (35%) 1 (20%) -
Information Technology 1 (4%) - - -
Technology Hardware 1 (4%) 88M (3%) - -
Total 24 $2.6B 5 -

By Geo

State/Country Buy Value Sell Value
United States 19 2.2B 4 -
  Massachusetts 6 371M 1 -
  California 6 450M 1 -
  Ohio 1 - - -
  North Carolina 1 875M - -
  New York 1 258M - -
  New Hampshire 1 - - -
  Georgia 1 - - -
  Washington 1 220M - -
  Texas 1 68M - -
Bulgaria 2 263M - -
United Kingdom 1 28M 1 -
France 1 - - -
Ireland 1 106M - -
Domestic 19 (79%) 2.2B (85%) 4 (80%) -
Cross-border 5 (21%) 397M (15%) 1 (20%) -
Total 24 $2.6B 5 -

Top M&A Advisors

Financial Deals
Pacific Crest Securities, Inc.
 3
Citigroup Investment Banking
 1
Legal Deals
Wilmer Cutler Pickering Hale and Dorr
 5
DLA Piper
 2
Foley Hoag LLP
 1

Deal Values

buy # Total
$100M to $1B 7 $2.3B
< $100M 8 $337M
TOTAL $2.6B
Largest ShareFile
$875M (2024-09-09)

M&A Connections

Deals
Acquired from
Investor(s)
29%
7 (29%)
Strategic(s)
4%
1 (4%)
Divested to
Strategic(s)
100%
5 (100%)

Company Summary

SECTOR

Software

Revenue

694   16% 2023
602   14% 2022
531   21% 2021
442   8% 2020
413   5% 2019
397   1% 2018
398   2% 2017
405   8% 2016
378   14% 2015
333   0% 2014
333   6% 2013
317   2012
(millions of USD) Show More Show Less

Employees

2,284

Established

1981

Public

NASDAQ: PRGS

Former Name

Data Language Corp.

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