M&A Deal Summary

Progress Software Acquires Chef Software

On September 8, 2020, Progress Software acquired software company Chef Software for 220M USD

Acquisition Highlights
  • This is Progress Software’s 15th transaction in the Software sector.
  • This is Progress Software’s 6th largest (disclosed) transaction.
  • This is Progress Software’s 16th transaction in the United States.
  • This is Progress Software’s 1st transaction in Washington.

M&A Deal Summary

Date 2020-09-08
Target Chef Software
Sector Software
Buyer(s) Progress Software
Deal Type Add-on Acquisition
Deal Value 220M USD
Advisor(s) Guggenheim Securities (Financial)
Wilmer Cutler Pickering Hale and Dorr
Wilson Sonsini Goodrich & Rosati (Legal)

Target

Chef Software

Seattle, Washington, United States
Chef Software, Inc. engages in DevOps and DevSecOps, providing complete infrastructure automation to build, deploy, manage and secure applications in modern multi-cloud and hybrid environments, as well as on-premises. Chef Software, Inc. was founded in 2008 and is based in Seattle, Washington.

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Buyer(S) 1

Buyer

Progress Software

Bedford, Massachusetts, United States

Category Company
Founded 1981
Sector Software
Employees2,284
Revenue 694M USD (2023)
DESCRIPTION

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.


DEAL STATS #
Overall 21 of 24
Sector (Software) 15 of 17
Type (Add-on Acquisition) 21 of 23
State (Washington) 1 of 1
Country (United States) 16 of 19
Year (2020) 1 of 1
Size (of disclosed) 6 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-20 Rollbase

Saratoga, California, United States

Rollbase, Inc. is a cloud platform that allows rapid creation of software as a service (SaaS) applications using point-and-click, drag-and-drop tools in a standard web-browser. Rollbase, Inc. was founded in 2007 and is based in Saratoga, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-23 KEMP

Melville, New York, United States

KEMP is a provider of load balancer and application delivery controller (“ADC”) solutions and services. Leveraging an agile per-app load balancing / ADC consumption model, predictive analytics and automated issue resolution, Kemp is radically simplifying how customers optimize, analyze and secure their applications across private and multi-cloud environments. KEMP was founded in 2000 and is based in Melville, New York.

Buy $258M