Progress Software

Performance indicators

2015: Loss of $8.8 million

In January 2016, Progress Software published a financial year 2015 report, and the media reported on the upcoming sale of the company to private investors.

According to data released by Progress Software, according to the results of the 12-month reporting period ending November 30, 2015, the company's net loss amounted to $8.8 million against a net profit of $49.5 million a year earlier. Vendor sales during this period rose to $377.6 million from $332.5 million.

In the structure of the annual revenue of Progress Software, the implementation of software licenses took $130.3 million, which is 11% more compared to fiscal year 2014. Support and other services remain the main source of revenue for the company: in 2015, this business brought the manufacturer $247.3 million in revenue compared to $214.7 million a year ago.

According to Reuters, Progress Software can be sold to private investors

The Progress OpenEdge platform, which is a ready-made solution for developing, integrating and managing business applications in the cloud, provided the company with revenue of $296 million at the end of fiscal year 2015.

Progress Software earns the most in North America. There, in 2015, the company earned $207.6 million, which is almost $57 million more than the value of the previous year. Annual revenues in EMEA (Europe, Middle East, Africa), Asia-Pacific and Latin America reached $124.2 million, $28.2 million and $17.6 million, respectively.^[1]

As reported on January 14, 2016 by Reuters, citing informed sources, Progress Software management is considering selling the company as one of the strategic alternatives being studied. Together with the investment bank JPMorgan Chase & Co. It is planned to hold a closed auction, which will be open only to a small number of private companies.

At the same time, the interlocutors of the publication say that the purchase of Progress Software at the expense of borrowed funds can be a problematic transaction due to the instability of the debt instruments market. In this regard, there is no guarantee that negotiations with potential buyers of Progress Software will end with the conclusion of any agreement.

Reuters does not name the value of the proposed transaction, but notes the market capitalization of Progress Software - about $1.2 billion by January 14, 2016.^[2]

History

2021: Kemp purchase for $258 million

In September 2021, Progress, which helps enterprises deliver, optimize, and protect applications and networks in any cloud or hybrid environment, announced the acquisition of a load balancing software developer on Kemp IT systems for $258 million. The transaction, which the buyer will pay with its own funds (without attracting shares), is planned to close about a month after its announcement, that is, in October.

2020: Purchase of Chef Software

On September 8, 2020, Progress Software announced the acquisition of Chef Software for $220 million, which is twice the amount that the developer of tools for automating software creation processes has attracted in its history by the time the deal was announced. More details here.

2019: Ipswitch Network Monitoring Software Developer Purchase for $225 Million

At the end of March 2019, Progress Software announced the acquisition of Ipswitch for $225 million. The buyer will pay for the transaction, which is scheduled to close in April, with the help of funds (including borrowed), that is, without attracting their shares. More details here.

2010: Savvion BPM Supplier Takeover

In 2010, Progress Software acquired Savvion, a BPM technology provider. Later, Progress announced the Responsible Process Management (RPM) solution, which turned on the Progress Control Tower system.

In 2010, Progress Software Corp. included independent operating companies that delivered products and technologies in the following areas:

• Progress OpenEdge Division is one of the largest providers of tools for building enterprise-scale information systems focused on intensive transaction processing in distributed computing environments in real time. OpenEdge™ offers a unified environment that includes development tools, application servers, flexible integration tools, and high-performance, embedded Progress DBMS;

• DataDirect Technologies is the world leader in producing high-quality drivers for all major databases, platforms, and database access APIs - ODBC, JDBC, and.NET;

• Sonic Software Corp. is a manufacturer of software products (SonicESB) for integrating heterogeneous industrial applications. The company is the founder of the term itself, as well as the leading specialized supplier of the Enterprise Service Bus (ESB) solution, an enterprise service bus that provides integration of distributed enterprise applications based on XML messaging between application services and is the basis for building a service-oriented architecture of distributed SOA systems;

• Progress Real Time Division - a combination of ObjectStore and Apama, which deliver products for building complex real-time data processing information systems and RFID systems, provides real-time data management (CEP), access and synchronization tools for the enterprise.

Notes