M&A Deal Summary

Progress Software Acquires ShareFile

On September 9, 2024, Progress Software acquired internet software and services company ShareFile from Cloud Software Group for 875M USD

Acquisition Highlights
  • This is Progress Software’s 5th transaction in the Internet Software and Services sector.
  • This is Progress Software’s largest (disclosed) transaction.
  • This is Progress Software’s 19th transaction in the United States.
  • This is Progress Software’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2024-09-09
Target ShareFile
Sector Internet Software and Services
Buyer(s) Progress Software
Sellers(s) Cloud Software Group
Deal Type Divestiture
Deal Value 875M USD

Target

ShareFile

Raleigh, North Carolina, United States
ShareFile is a cloud storage, file sharing and collaboration solutions provider. ShareFile was formed in 2005 and is based in Raleigh, North Carolina.

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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 24 of 24
Sector (Internet Software and Services) 5 of 5
Type (Divestiture) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 19 of 19
Year (2024) 1 of 1
Size (of disclosed) 1 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-03 MarkLogic

Redwood City, California, United States

MarkLogic is a provider of enterprise data integration and data management solutions. MarkLogic’s technology simplifies the integration of enterprise data across silos to provide immediate business value. MarkLogic Data Hub Service is a fully managed cloud data platform that is able to reliably assemble raw data, index it in real-time for powerful semantic search, and provide the ability to securely run operational and analytical applications at scale. MarkLogic was founded in 2001 and is based in Redwood City, California.

Buy $355M

Seller(S) 1

SELLER

Cloud Software Group

Fort Lauderdale, Florida, United States
Category Company
Founded 2022
Sector Internet Software and Services
DESCRIPTION

Cloud Software Group is a provider of enterprise infrastructure software solutions encompassing virtualization, integration, data management, automation, business intelligence, collaboration, networking and security. Cloud Software Group is based in Fort Lauderdale, Florida.

DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-01 Citrix

Fort Lauderdale, Florida, United States

Citrix develops and sells products and services that enable the secure and reliable delivery of applications and data over public, private, or hybrid clouds or networks, to virtually any type of device. The Company markets and licenses its products directly to customers, over the Web, and through systems integrators, or SIs, in addition, to indirectly through value-added resellers, or VARs, value-added distributors, or VADs, original equipment manufacturers, or OEMs and service providers. Citrix was established in 1989 and is based in Ft. Lauderdale, Florida.

Buy -
Mergr

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