Progress Software Corporation is an American public company founded in 1981 and headquartered in Burlington, Massachusetts. It produces software for creating and deploying business applications.
According to reports, Progress Software has announced plans to acquire ShareFile for $875 million USD to boost its enterprise product portfolio. The deal is expected to close in November 2024.
The report further mentions that the acquisition is expected to contribute $240 million USD to Progress’ annual revenue. Progress also plans to redirect capital toward the repayment of debt to increase liquidity for future deals and for share repurchases.
ShareFile is a secure content collaboration, file sharing, and sync software launched in 2005. It supports all the document-centric tasks and workflow needs of small and large businesses.
