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

03/09/2026

Creative Technology Group Announces Leadership Transition Effective January 2027

NEP Group has announced leadership changes at Creative Technology Group. Founder and CEO Graham Andrews will step away from day-to-day leadership at the end of ...

03/09/2026

NFL and TikTok Renew Multi-Year Partnership

The NFL and TikTok have announced a multi-year partnership renewal expanding the league's presence on the platform. NFL posts on TikTok increased more than ...

03/09/2026

Grass Valley Appoints Ronny Van Geel as Vice President, Cameras

Grass Valley has appointed Ronny Van Geel as Vice President, Cameras. Van Geel began his career in 1999 at Philips DVS and moved into product management in 2005...

03/09/2026

IBC 2026: Telestream to Preview Vantage Super Resolution

Telestream has announced Vantage Super Resolution, an AI-powered upscaling capability for the Vantage media workflow platform, developed in collaboration with N...

03/09/2026

IBC 2026: Solid State Logic TCA Tour

Solid State Logic (SSL) will debut the TCA Tour at IBC2026 (Hall 8, Stand 8.B45), a portable production system built from System T components in a desktop frame...

03/09/2026

IBC 2026: DPA Microphones Launches 6388 CORE+ Headset Microphone

DPA Microphones has announced the 6388 CORE Headset Microphone, making its debut at IBC2026 (Hall 8, Stand D60). The supercardioid headset features a physicall...

03/09/2026

IBC 2026: Qvest to Demonstrate Multi-Vendor Dynamic Media Facility Showcase

Qvest will present a multi-vendor Dynamic Media Facility (DMF) showcase at IBC2026 (Booth 10.C24), demonstrating how the EBU's DMF architecture can be imple...

03/09/2026

IBC 2026: Imagine Communications Debuts Magellan PanelFlex

Imagine Communications will showcase the Magellan PanelFlex control surface and other control portfolio updates at IBC2026 (Stand 1.B73, RAI Amsterdam, Septembe...

03/09/2026

IBC 2026: Bridge Technologies Launches Software-Based VB440 Deployment Option

Bridge Technologies will announce at IBC2026 (Booth 1.A71) that its VB440 production probe is now available as a software-based solution, deployable on commerci...

03/09/2026

Audio-Technica Launches BP350ST Mid-Side Stereo Microphone in Two Variants

Audio-Technica has unveiled the BP350ST MS (mid-side) microphone in two versions: the camera-mount BP350ST-UL and the boundary or gooseneck-mountable BP350ST-UB...

03/09/2026

IBC 2026: Jnger Audio flexAI Adds CastCompanion, 12G-SDI, NDI, and TVU MediaMesh Integration

Telos Alliance will introduce updates to the J nger Audio flexAI audio processin...

03/09/2026

DUNKMAN to Expand in 2027 with Team Competitions, Junior Division, and Global Qualifiers

DUNKMAN, the professional dunk league founded by Shaquille O'Neal in partner...

03/09/2026

Orlando Magic Tap DAZN as DTC Streaming Partner, Will Join OTA Distribution Plans for 2026-27 Season

Orlando's WRDQ TV 27, WFTV Channel 9 previously named over-the-air broadcast...

03/09/2026

EverPass Media Expands NFL Agreement with Netflix for Commercial Venues

EverPass Media has announced a multi-year commercial distribution agreement with Netflix, expanding on an existing partnership that has delivered NFL Christmas ...

03/09/2026

Yahoo Sports and Apple TV Partner on MLB and MLS Alternate Broadcasts

Yahoo Sports and Apple TV have announced a partnership to deliver alternate broadcasts of select Friday Night Baseball and MLS games on the Yahoo Sports website...

03/09/2026

BIG EAST's Scott Hecht on the Evolution of Campus Production and What Comes Next

With another academic year underway, college athletic departments across the cou...

03/09/2026

ESPN Debuts Revamped, Cutting-Edge Studio W in Bristol as New Home to NFL Live, College Football, and More

Facility becomes permanent home of NFL Live on Sept. 9; centerpiece studio for c...

03/09/2026

NAB Backs Most Proposed EAS Changes at FCC

Share Copy link Facebook X Linkedin Bluesky Email...

03/09/2026

TiVo Expands FAST Channels, AI Discovery with Latest OS Update

Share Copy link Facebook X Linkedin Bluesky Email...

03/09/2026

Eluvio Advances Content Fabric, AI at IBC 2026

Share Copy link Facebook X Linkedin Bluesky Email...

03/09/2026

Haivision Adds Bonded 5G Cellular Support to Makito ONE

Share Copy link Facebook X Linkedin Bluesky Email...

03/09/2026

Alex Pannell Joins Gravity Media as Chief Business Officer

Share Copy link Facebook X Linkedin Bluesky Email...

03/09/2026

AI-Media To Feature Multilingual AI Developments At IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

03/09/2026

Tuxera and ATTO collaborate to deliver blistering macOS n...

Recognizing the ever-increasing demands for media throughput in challenging environments like post-production, two leaders in network technology have worked tog...

03/09/2026

EVS and Matrox Video Join Forces to Accelerate Dynamic Me...

EVS, a leader in live video technology and production infrastructure solutions, and Matrox Video, a leader in software-defined media technology and IP-based vid...

03/09/2026

AJA Debuts OG-FiDO-4 openGear Four-Channel SDI/Fiber Conversion Cards

AJA Debuts OG-FiDO-4 openGear Four-Channel SDI/Fiber Conversion Cards Brie Clayton September 3, 2026 0 Comments New product family expands 12G-SDI and...

03/09/2026

Nice Touch launches V2 of its AI edit assistant for professional editors

Nice Touch launches V2 of its AI edit assistant for professional editors Brie Clayton September 3, 2026 0 Comments Built by two editors with twelve ye...

03/09/2026

Accedo and MediaKind Launch End-to-End Streaming Solution...

Accedo, a global provider of video streaming software and services, and MediaKind, a world-leading video technology company and the number one independent provi...

03/09/2026

14 Percent of live sports viewers have considered switchi...

International research from Big Blue Marble puts a consumer churn number against a technical failure, and sets out what streaming providers must fix before 2030...

03/09/2026

Broadpeak expands CDNaaS for streaming at scale with new...

High-performance points of presence power video streaming delivery to large audiences across Latin America with guaranteed quality of experience Broadpeak , a ...

03/09/2026

Dalia Delivers New Agentic Workflows Changing How Media W...

Dalet, a leading technology and service provider for media-rich organizations, will unveil the next evolution of Dalia at IBC2026 (7.A43), its media-aware agent...

03/09/2026

CGI showcases AI-assisted newsroom and radio workflows pa...

CGI (TSX: GIB.A) (NYSE: GIB), one of the world's largest independent IT and business consulting services firms, will showcase CGI OpenMedia Evolve and CGI d...

03/09/2026

LiveU Joins IBC Accelerator Smart Stories Consortium to D...

LiveU is participating in the IBC Accelerator Incubator 2026: Smart Stories The New Knowledge Architecture for Content Production, an industry-wide initiative...

03/09/2026

Christer Palsson brings global experience to Broadcast So...

Broadcast Solutions, a leading systems integrator and provider of innovative solutions for the broadcast and media industry, has taken another major step in its...

03/09/2026

Quortex brings AI and IP transition into focus at IBC 202...

Quortex today announced that it will showcase how it is accelerating innovation and the transition to IP at IBC 2026. The company will debut its newest intellig...

03/09/2026

Grass Valley Names Ronny Van Geel Vice President Of Cameras

Share Copy link Facebook X Linkedin Bluesky Email...

03/09/2026

VisualOn and EZDRM Enable Visualization of C2PA Provenanc...

The EZDRM approach to Revenue Security on streaming video can be visualized as a multi-dimensional set of solutions. A growing dimension of that approach is the...

03/09/2026

Kiloview Brings Hybrid AV-over-IP to Life at IBC 2026 wit...

From field capture to management, control and production, Kiloview will demonstrate one connected Hybrid AV-over-IP workflow including a complete 4RU producti...

03/09/2026

Mediagenix Curation Unlocks Greater Catalog Value Through...

Mediagenix, a global leader in smart content solutions to profitably connect the right content to the right audience, today announced Mediagenix Curation, a new...

03/09/2026

LucidLink brings distributed media into active workflows...

LucidLink, the Emmy-winning cloud-native file streaming platform for instant, secure access to large files, today announced the next step in its vision to make ...

03/09/2026

AJA Introduces FS8, Next-Gen 12G-SDI/SMPTE ST 2110 Media Processor

AJA Introduces FS8, Next-Gen 12G-SDI/SMPTE ST 2110 Media Processor Brie Clayton September 2, 2026 0 Comments AJA Video Systems unveiled FS8, a video a...

03/09/2026

Shooting Deadheading with Blackmagic URSA Cine 12K LF

Shooting Deadheading with Blackmagic URSA Cine 12K LF Brie Clayton September 2, 2026 0 Comments Bringing a small story to the big screen with dark com...

03/09/2026

OOONA Launches OOONA Go: Professional Localization Management for Small Companies

OOONA Launches OOONA Go: Professional Localization Management for Small Companie...

03/09/2026

East of Texas Opens at American Tobacco Campus, Bringing North Carolina's First Tex-Mex BBQ Concept to Durham

DURHAM, N.C. - East of Texas Durham has officially opened its doors at American ...

03/09/2026

Telos Alliance Emphasizes Audio Observability Across Media Workflows

Telos Alliance Emphasizes Audio Observability Across Media Workflows Search IBC 2026 demonstrations highlight automated monitoring for increasingly complex...

03/09/2026

NBA 2K27' With NVIDIA DLSS 5 Leads 26 New Games Coming to GeForce NOW

September is here with 26 more games streaming on GeForce NOW this month, led by a slam dunk: NBA 2K27 with the NVIDIA DLSS 5 3D-Guided Neural Rendering feature...

02/09/2026

SVG Venues & Teams Summit 2026: All Sessions Now Available To Watch on SVG PLAY

Professional and collegiate clubs, leading vendors discuss current trends in stadium production On. Aug. 12, the 2026 SVG Venues & Teams Summit explored the ev...

02/09/2026

SoFi Stadium Completes Broadcast Infrastructure Upgrade

SoFi Stadium, YouTube Theater, and Hollywood Park have completed an infrastructure upgrade expanding game presentation and broadcast production capabilities acr...

02/09/2026

IBC 2026: Comcast Technology Solutions Unveils AI-Powered Workflow Applications

Comcast Technology Solutions (CTS) has announced a suite of AI-powered workflow applications for broadcasters, content owners, and operators, built on its Video...

02/09/2026

NABA and APWPT Announce Partnership on Wireless Spectrum Advocacy

The North American Broadcasters Association (NABA) and the Association of Professional Wireless Production Technologies (APWPT) have announced a partnership to ...