IpSwitch

As IT infrastructure of the modern organizations becomes more volume and more difficult every year, there is a risk to lose control over the IT assets. Ipswitch WhatsUp Gold defines their physical location, automatically builds the card of network and lists of resources that considerably reduces the price and accelerates process of search of necessary components. A system provides automatic reports on contracts for a guarantee and provision of services, notifies system administrators on existence of outdated software and the expiration of its action. Also abilities to manage the wireless system, a configuration of network and control of different applications on one screen enter its functionality.

History

2019: Progress Software purchased Ipswitch  for $225 million

At the end of March, 2019 Progress Software announced acquisition of Ipswitch  for $225 million. The buyer will pay the transaction which is going to be closed in April, by means of money (including taken on credit), i.e. without attraction of the actions.

It is supposed that merger of Ipswitch to strengthen Progress product portfolio for the companies representing small and medium business. Banks and other financial institutions, insurance companies, retailers, medical and biomedical institutions and also state bodies are among clients of Ipswitch. By the end of March, 2019 Ipswitch  has about 24 thousand customers in 170 countries.

Progress Software purchased software developer for monitoring of Ipswitch networks

Progress hopes for increase in profit and cash flows right after closing of the transaction on Ipswitch acquisition. At first between the companies regulators should approve the agreement.

Atlas Technology Group advised Ipswitch  on financial questions, and Latham & Watkins  — on legal. Wilmer Cutler Pickering Hale and Dorr companies acted as consultants of Progress.

Ipswitch has an excellent reputation, products of the highest quality, the prospering customer base and a partner ecosystem and also the highly skilled and interested in the case employees — the CEO of Progress Yogesh Gupta says. — More than a year we say that increase in transactions on merges and absorption is an important part of our strategy.  Purchase of Ipswitch is that type of transactions at which we are aimed to increase the scale of business and cash flows.

According to Gupta, Progress and Ipswitch are similar the fact that they created the business helping the companies to solve crucial problems using effective and simple solutions in use long ago.^[1]

After the statement for Ipswitch purchase and also the publication of the financial statement of the stock Progress rose in price for 20%.

2018: Michael Grossi is the new CEO of Ipswitch

On February 21, 2018 the software maker for file transfer and network management of Ipswitch announced Michael Grossi the new CEO of the company. Read more here.