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Progress Announces Acquisition Of Kemp, Adding Application Experience To Industry-Leading Product Portfolio

Sep 23, 2021•about 4 years ago

Acquiring Company

Progress Software

Acquired Company

Kemp

BurlingtonNew YorkSoftwareAppsMobileSoftware

Description

Progress (NASDAQ: PRGS), the leading provider of products to develop, deploy and manage high-impact applications, today announced that it has entered into a definitive agreement to acquire privately held Kemp, the always-on application experience company that helps enterprises deliver, optimize and secure applications and networks across any cloud or hybrid environment. With this acquisition, Progress will extend its portfolio of market-leading products in DevOps, Application Development, Data Connectivity and Digital Experience, by adding Application Experience Management (AX).

Company Information

Company

Progress Software

Location

Burlington, Massachusetts, United States

About

Progress Software Corp. (Nasdaq: PRGS) is the trusted provider of infrastructure software. With over three decades of experience and a current market capitalization of c.$2.3 billion, Progress has a proven track record in database management and a deep knowledge of the sector.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed