Sony Pixel Power calrec Sony

Progress Announces Acquisition of Kemp, Adding Application Experience to Industry-Leading Product Portfolio

24/09/2021

Progress continues to deliver on its total growth strategy with acquisition that meets its financial criteria, has complementary products and a loyal customer base

BEDFORD, Mass., Sept. 23, 2021 (GLOBE NEWSWIRE) -- 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).

Now more than ever, businesses recognize that their applications must always be available and highly performant, said Yogesh Gupta, CEO, Progress. The Kemp products address this exact need and complement our portfolio of best-in-class products to develop, deploy and manage high-impact applications.

Kemp Loadmaster and Flowmon Network Visibility products monitor application performance, and distribute and balance traffic and workloads across servers, in the cloud or on premise, ensuring high performance and availability. They do this by leveraging machine learning to identify anomalies and alert IT professionals before end-users are impacted. These capabilities complement Progress offerings, such as WhatsUp Gold, a market leader in easy-to-use network management. Combined, they will offer the best application experience solution in the market.

The acquisition of Kemp also furthers our total growth strategy and will enable us to add scale and cash flow, creating significant shareholder value, added Mr. Gupta.

Kemp meets Progress' key acquisition criteria of adding solid levels of recurring revenue, complementary technology and loyal customers and will provide an opportunity for Progress to leverage its larger platform for improved efficiency.

We are extremely proud of what we've been able to achieve as a business, said Ray Downes, CEO, Kemp. As part of Progress, I am confident Kemp will thrive in the next chapter of its journey. Not only will the combined product portfolio provide great benefit to our customers and partners, but the cultural alignment and customer-first focus demonstrated by both organizations are impressive and will surely lead to long-term success for all.

Transaction Details

Progress will acquire Kemp for $258 million in cash. The acquisition is expected to close in October 2021, subject to obtaining regulatory approvals and satisfaction of other customary closing conditions. Progress expects to fund the purchase price with cash on hand. The transaction is expected to be accretive to both non-GAAP earnings per share and cash flow, beginning in the fiscal fourth quarter of 2021.

Lincoln International served as the exclusive financial advisor to Kemp on this transaction. Wilmer Cutler Pickering Hale and Dorr LLP served as Progress legal counsel and Lowenstein Sandler LLP served as Kemp's legal counsel with respect to the transaction.

Additional Resources

Follow Progress on Twitter, Facebook and LinkedIn

Read the Progress blog

About Kemp

Kemp powers the always-on application experience that enterprises and service providers need to succeed. Kemp has redefined load balancing and application delivery with more simplified deployments, more flexible licensing and top-rated technical support. Kemp is the world's most-popular virtual load balancer with more than 100,000 deployments in 138 countries. Take control of your AX at Kemp.ax.

About Progress

Progress (NASDAQ: PRGS) provides the best products to develop, deploy and manage high-impact business applications. Our comprehensive product stack is designed to make technology teams more productive, and we have a deep commitment to the developer community, both open source and commercial alike. With Progress, organizations can accelerate the creation and delivery of strategic business applications, automate the process by which apps are configured, deployed and scaled, and make critical data and content more accessible and secure-leading to competitive differentiation and business success. Over 1,700 independent software vendors, 100,000 enterprise customers, and a three-million-strong developer community rely on Progress to power their applications. Learn about Progress at www.progress.com or 1-800-477-6473.

Note Regarding Forward-Looking Statements

This press release contains statements that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Progress has identified some of these forward-looking statements with words like believe, may, could, would, might, should, expect, intend, plan, target, anticipate and continue, the negative of these words, other terms of similar meaning or the use of future dates.

Risks, uncertainties and other important factors that could cause actual results to differ from those expressed or implied in the forward looking statements include: uncertainties as to the effects of disruption from the acquisition of Kemp making it more difficult to maintain relationships with employees, licensees, other business partners or governmental entities; other business effects, including the effects of industry, economic or political conditions outside of Progress' or Kemp's control; transaction costs; actual or contingent liabilities; uncertainties as to whether anticipated synergies will be realized; and uncertainties as to whether Kemp's business will be successfully integrated with Progress business. For further informatio
LINK: https://investors.progress.com/news-releases/news-release-details/prog...
See more stories from datadirect

North America Stories

12/08/2026

ACLU Requests ABC Station Probe Documents from FCC

Share Copy link Facebook X Linkedin Bluesky Email...

12/08/2026

Roger Keating To Retire from Hearst Television

Share Copy link Facebook X Linkedin Bluesky Email...

12/08/2026

Netflix Closes U.S. Upfronts, Nearly Doubles Ad Commitments

Share Copy link Facebook X Linkedin Bluesky Email...

12/08/2026

CBS Pittsburgh Debuts New AR/VR News Studio

Share Copy link Facebook X Linkedin Bluesky Email...

12/08/2026

Matthews Intros T-Go Extreme Rigging Solutions

Matthews Studio Equipment introduces T-Go Mounting Solutions extreme camera rigging systems, engineered for the most demanding environments in motion picture pr...

12/08/2026

Anton Bauers EDEN Becomes Only Mobile Power Station in it...

Anton/Bauer, a Videndum brand and the industry leader in mobile power solutions for broadcast and cinematic production, announces that the EDEN Mobile Power Sta...

12/08/2026

TAG Video Systems Cuts Hardware Costs for Customers with...

TAG Video Systems, the global leader in software-based IP monitoring and multiviewer solutions, today announced a memory usage optimization that lowers the tota...

12/08/2026

Unified Streaming Launches Trusted Media - C2PA in Dynami...

Unified Streaming announces Trusted Media, a new solution that enables broadcasters, streaming platforms, and premium content owners to attach verifiable authen...

12/08/2026

Tedial Powers the AI-Driven Media Supply Chain at IBC 202...

Combining intelligent automation, composable business services and user-centric experiences The media industry is entering a new phase where AI intelligence is...

12/08/2026

DPA Microphones Appoints Raul Contreras as West Coast Reg...

DPA Microphones welcomes Raul Contreras as its new West Coast Regional Sales Manager. In this role, Contreras will oversee sales and customer relationships thro...

12/08/2026

Weather is Not a Factor for Marshall Electronics New CV57...

Marshall Electronics' first all-weather, all-IP 4K POV camera, the CV574-WP, makes its European debut at IBC 2026 (Stand 10.C11). Built for the elements, th...

12/08/2026

A double off-switch helps cells respond to stress

LA JOLLA, CA-Scientists at Scripps Research have discovered that two seemingly unrelated cellular enzymes become locked together during times of stress, simulta...

11/08/2026

Apple To Bring Friday Night Baseball Live to Apple Immersive on Vision Pro Beginning Aug. 28

Weekly immersive broadcasts will feature 8K 3D video, a 180-degree field of view...

11/08/2026

Looking for a New Cameraperson? ProductionHUB Guide Lays Out Considerations, Pitfalls

By Briana Brady, Social Media Manager, Production Hub Sports content is having ...

11/08/2026

SVG Sit-Down: Backlight CEO Kathleen Barrett on Building Media Infrastructure for a Global, AI-Driven Sports Landscape

She addresses why media organizations need more than asset storage, how sports t...

11/08/2026

FloSports Dennis LeMire on Implementing Cloud-Based Workflows on Lower Tier Sports

Remote commentary has improved significantly on these broadcasts At a clip of ...

11/08/2026

Miami HEAT's Revamped IP-Based Control Room Coordinates Workflows With Meinberg Intelligent Modular Synchronization System

A pair of LANTIME IMS M2000 PTP Grandmasters deliver resilient timing infrastruc...

11/08/2026

LTN Expands Live Event Master Control Capabilities for Sports Organizations

LTN has announced expanded capabilities for its Live Event Master Control offering, providing sports broadcasters, leagues, rights holders, and content owners w...

11/08/2026

WTA Ventures Appoints IMG as Managed Production Services Partner

WTA Ventures has appointed IMG as its managed production services partner in a multi-year agreement commencing with the 2027 season. The partnership is the late...

11/08/2026

New York Jets and CBS New York Extend Multi-Year Partnership

The New York Jets and CBS New York have agreed to a multi-year extension of their partnership, keeping CBS New York as the official broadcast home of the team. ...

11/08/2026

Nielsen Acquires DoubleVerify to Create New Combined Media Intelligence Platform

Nielsen Holdings and DoubleVerify have announced a definitive agreement under which Nielsen will acquire DoubleVerify in an all-cash transaction with an enterpr...

11/08/2026

AES Elects David v.R. Bowles as President-Elect for 2027, Unveils Other Election Results

The Audio Engineering Society has announced the results of its 2026 Board of Dir...

11/08/2026

SVG Sit-Down Creator Sports Network's Barrick Prince on Building the Next Layer of the Live-Sports Rights Stack

The CSN co-founder details its network and affiliate' model, how creator wi...

11/08/2026

Gravity Media Providing Host Broadcast Operations for Esports World Cup 2026

Gravity Media is providing host broadcast operations for the Esports World Cup (EWC) 2026, supporting ESL FACEIT Group (EFG) in delivering the tournament to glo...

11/08/2026

TAG Video Systems Reduces Memory Requirements for Compressed Workflows

TAG Video Systems has released a memory usage optimization for its MCM software that reduces the cost per channel by up to two-thirds for compressed workflows. ...

11/08/2026

SMT Expands LED Production and Scoring Services at 2026 Cincinnati Open

SMT is expanding its technology partnership with the Cincinnati Open this year, adding new LED displays, production capabilities, and fan-facing experiences at ...

11/08/2026

Pac-12 to Stream Fall Olympic Sports Home Events Free on YouTube

The Pac-12 has announced that home Olympic sports broadcasts throughout the fall season will be available free on the conference's YouTube channel at youtub...

11/08/2026

Case Study: Real Life Network Taps LiveU for Broadcast-Grade Streaming

Spreading a message of faith requires both widespread accessibility and uncompromising visual quality. Real Life Network (RLN), a free, faith-based digital stre...

11/08/2026

Tennessee Titans' New Nissan Stadium Will Live Up to Its Music City Location

Taking the synergy of sports and entertainment a step further, the NFL venue in Nashville will house iterations of two iconic music clubs The marriage of Taylo...

11/08/2026

Dolby Acquires VVC Patents From Florida Atlantic University

Share Copy link Facebook X Linkedin Bluesky Email...

11/08/2026

Alyson Stewart Joins Zixi as Senior Director, Sales

Share Copy link Facebook X Linkedin Bluesky Email...

11/08/2026

FCC Issues Alert Over Scammers Impersonating Its Commissioners

Share Copy link Facebook X Linkedin Bluesky Email...

11/08/2026

Comcast, Disney Ink Deal to End NFL Network Blackout

Share Copy link Facebook X Linkedin Bluesky Email...

11/08/2026

farmerswife and Cirkus are Exhibiting at IBC 2026

farmerswife and Cirkus will return to IBC 2026 to showcase new tools designed to help broadcast, media and post-production teams manage workflows with greater s...

11/08/2026

LiveU Powers Cross-Venue Coverage of Glasgow Commonwealth...

LiveUs LU900Q intelligent production unit played a central role in the host broadcast operation for the Games in Glasgow (July 23 to August 2, 2026). The host b...

11/08/2026

Jigsaw24 Appoints James Morse as Client Director to Drive...

Jigsaw24 has appointed James Morse as Client Director, Media Sales, as it deepens its focus on sports, live events and integrated production. His appointment co...

11/08/2026

Net Insight enables one of Europes largest broadcast grad...

Net Insight today announced that DMC Production Norway has selected its Open Live Media solution to centralize the production of Blinkfestivalen 2026. Combining...

11/08/2026

Vivaro Supports Record World Cup Audiences with the Appea...

Modular HEVC and JPEG XS workflows enabled resilient, ultra-low-latency delivery for leading linear and digital media platforms across all 104 matches Appear A...

11/08/2026

Homecoming Artist Spotlight: Fabiola Mndez

Homecoming Artist Spotlight: Fabiola M ndez The first cuatrista to graduate from Berklee talks about the community that shaped her career ahead of her Homecom...

11/08/2026

FOR-A To Highlight MixBoard, Viztrik AiDi Enhancement At IBC 2026

Share Copy link Facebook X Linkedin Bluesky Email...

11/08/2026

AMWA and EBU to Host Demos at IBC 2026

Share Copy link Facebook X Linkedin Bluesky Email...

11/08/2026

Dalet Solution Suites Enable Media Teams to Move Like a S...

Dalet, a leading technology and service provider for media-rich organizations, today announced Dalet Solution Suites, a new portfolio of cloud-native solutions ...

11/08/2026

Mediagenix Helps Broadcasters Prepare for Brazil DTV Futu...

Mediagenix, a global leader in smart content solutions to profitably connect the right content to the right audience, will showcase how media companies can prep...

11/08/2026

NVIDIA AI Factory Compute Is Becoming an Investable Asset Class

We announced partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to establish independent financing platforms designed to mobiliz...

11/08/2026

Why Scaling AI Compute Performance Requires a New Power Architecture

Every new generation of accelerated computing demands more from the infrastructure underneath it - more compute performance, higher rack density and more effici...

11/08/2026

NVIDIA Nemotron 3.5 Lightning and NeMo Switchyard Deliver Faster, Smarter, More Efficient Agentic AI

As AI shifts from chatbots to autonomous agents, open models are serving market ...

11/08/2026

NVIDIA and Local AI Community Fuel Open Source Models and Intelligent Agents

The open source ecosystem is making it easier for AI enthusiasts and developers to build, customize and run increasingly capable agents locally. Throughout Au...

10/08/2026

Apple to Bring Friday Night Baseball' Live to Apple Immersive on Vision Pro Beginning Aug. 28

Weekly immersive broadcasts will feature 8K 3D video, a 180-degree field of view...

10/08/2026

Former NAB Tech Exec Tom Keller Has Died

Share Copy link Facebook X Linkedin Bluesky Email...

10/08/2026

Matthews Bows Monitor Stand III

Share Copy link Facebook X Linkedin Bluesky Email...