Progress Software - M&A Summary and Business Overview

SoftwareCompany

Progress Software M&A Summary

Progress Software has acquired 24 companies, including 5 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 2023, when it acquired MarkLogic for $355M. Progress Software has acquired in 8 different US states, and 5 countries. The Company’s most targeted sectors include software (74%) and internet software and services (18%).

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 602M USD for 2022 and 531M USD for 2021.

How many employees does Progress Software have?

Progress Software has 1,796 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 Activity28
    • M&A Buy Activity23
    • M&A Sell Activity5
  • Total Sectors Invested 4
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 13
  • M&A Advisors 4

Progress Software

Progress Software Corp.

14 Oak Park Drive,
Bedford, Massachusetts 01730
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 (0.6/yr) # 20 1 1 - 1 - 23
vol $931M $220M $258M $355M $1.8B
Sell (0.0/yr) # 5 - - - - - 5
  28

Most Recent M&A

Company Date Value Type
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
BravePoint, Inc. 2014-10-01 - Add-on Acquisition
Norcross, Georgia · www.bravepoint.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Software 17 (74%) 1.6B (92%) 4 (80%) -
Internet Software and Services 4 (17%) 58M (3%) 1 (20%) -
Information Technology 1 (4%) - - -
Technology Hardware 1 (4%) 88M (5%) - -
Total 23 $1.8B 5 -

By Geo

State/Country Buy Value Sell Value
United States 18 1.4B 4 -
  Massachusetts 6 371M 1 -
  California 6 450M 1 -
  Washington 1 220M - -
  Texas 1 68M - -
  Ohio 1 - - -
  New York 1 258M - -
  New Hampshire 1 - - -
  Georgia 1 - - -
Bulgaria 2 263M - -
United Kingdom 1 28M 1 -
France 1 - - -
Ireland 1 106M - -
Domestic 18 (78%) 1.4B (78%) 4 (80%) -
Cross-border 5 (22%) 397M (22%) 1 (20%) -
Total 23 $1.8B 5 -

Top M&A Advisors

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

Deal Values

buy # Total
$100M to $1B 6 $1.4B
< $100M 8 $337M
TOTAL $1.8B
Largest MarkLogic Corp.
$355M (2023-01-03)

M&A Connections

Deals
Acquired from
Investor(s)
30%
7 (30%)
Divested to
Strategic(s)
100%
5 (100%)

Company Summary

SECTOR

Software

Revenue

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

1,796

Established

1981

Public

NASDAQ: PRGS

Former Name

Data Language Corp.

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