
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
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
02/05/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
01/05/2026
January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...
01/04/2026
January 4 2026, 18:00 (PST) DOLBY AND DOUYIN EMPOWER THE NEXT GENERATON OF CREATORS WITH DOLBY VISION
Douyin Users Can Now Create And Share Videos With Stun...
18/03/2026
Newly named chief product officer (CPO), Larissa G rner Meeus will return to Net Insight on May 4.
Larissa G rner Meeus will become CPO of Net Insight on May 4...
18/03/2026
SVG Europe's The Football Summit 2026 explored how the sports broadcasting i...
18/03/2026
The 2026 NAB Show kicks off one month from today and SVG is once again set to cover the show from every angle. SVG's SportsTech@NAB Show Blog is now live - ...
18/03/2026
(L-R) The cast and crew of Dead Lover at The Ray Theater for its premiere at the 2025 Sundance Film Festival. (Photo by Robin Marshall/Shutterstock for Sundan...
18/03/2026
Yamaha C7 captured in Nashville
Wiltone Productions have announced the release of Music Row Piano, a deeply sampled Yamaha C7 piano library that's been ...
18/03/2026
Bass-enhancement plug-in upgraded
Along with a steady stream of new releases, Techivation have recently been revisiting some of the older plug-ins in their ...
18/03/2026
Mix-reference plug-in overhauled
iZotope's powerful mix-referencing plug-in has just reached its third major version, and now boasts a new capture proce...
18/03/2026
Latest EZKeys 2 expansion arrives
Toontrack's staggering collection of EZKeys 2 expansions has grown once again, and the latest instalment delivers a on...
18/03/2026
Jess Ho explores the politics of food in new SBS Audio podcast For The Culture
18 March, 2026
Media releases
New SBS Audio podcast For The Culture, hosted ...
18/03/2026
Future-ready broadcasts with ATSC 3.0 and enhanced services from Rohde & Schwarz...
18/03/2026
London Calling - When The Industry Convened to Help Streaming Find its MoJo In this blog, Laura Rognoni reflects on key discussions from the Connected TV World...
18/03/2026
SMPTE Unveils 2026 NAB Show Educational Presentations
Brie Clayton March 18, 2026
0 Comments
SMPTE , the home of media professionals, technologists, a...
18/03/2026
Auditel Ad Campaign Shot on Blackmagic PYXIS 12K
Brie Clayton March 18, 2026
0 Comments
LED wall virtual production blends 12K open gate acquisition w...
18/03/2026
Brainstorm transforms productivity and sustainability with Suite 7 at NAB Show 2...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
SMPTE , the home of media professionals, technologists, and engineers, today unveiled its educational presentations for the 2026 NAB Show. This year SMPTE will ...
18/03/2026
Maxon, maker of powerful, approachable software solutions for creators working in 2D and 3D design, motion graphics, visual effects, gaming, and more, today ann...
18/03/2026
Digital Alert Systems
Preview
2026 NAB Show
April 19 - 22
Booth C3452
At the 2026 NAB Show, Digital Alert Systems will showcase Version 6.0 of its DASDEC ...
18/03/2026
Setplex today announced that it will showcase its complete, fully integrated Zapflex platform for the first time at the 2026 NAB Show, introducing powerful new ...
18/03/2026
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE ...
18/03/2026
COW Jobs: Seeking DP for Low Budget Dramedy - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Director of Photography for Low Budget Dramedy Fe...
18/03/2026
COW Jobs: Seeking Gaffer for Low Budget Dramedy - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Gaffer for Low Budget Dramedy Feature Film- I...
18/03/2026
COW Jobs: Seeking Location, Sound for Low Budget Dramedy - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Location/Sound for Low Budget Dramed...
18/03/2026
COW Jobs: Seeking Child Wrangler for Low Budget Film - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Child Wrangler for Low Budget Dramedy Fe...
18/03/2026
Calrec Redefines Broadcast Workflows at NAB 2026 with its Most Powerful Hardware...
18/03/2026
Oscar Nominated Two People Exchanging Saliva Posted with DaVinci Resolve Studio
Brie Clayton March 17, 2026
0 Comments
DaVinci Resolve Studio handle...
18/03/2026
Boston Conservatory Presents Celebrated Musical Satire Urinetown Performances for this Center Stage production will take place at Boston Conservatory Theater ...
18/03/2026
Charlie Puth Joins Switched on Pop at Berklee NYC The Berklee alum spoke with host and Berklee NYC professor Charlie Harding for a live taping, answering audi...
18/03/2026
X-Rite Pantone Demonstrates Advanced Color Management Solutions to Support Smart...
18/03/2026
Wednesday 18 March 2026
BAFTA winner James McAvoy to star in Sky Original serie...
18/03/2026
Wednesday 18 March 2026
Sky Sports and Zuffa Boxing announce multi-year agreement for the UK and Ireland
Sky Sports and Zuffa Boxing have announced a new mult...
18/03/2026
Wednesday 18 March 2026
Sky Unveils Poster and Trailer for Original Feature Fil...
18/03/2026
Wednesday 18 March 2026
UP NEXT: Sky presents a bold slate of new, premium acquired content
Sky reveals slate of newly acquired premium drama and comedy, as i...
18/03/2026
Wednesday 18 March 2026
UP NEXT: Sky unveils an unmissable genre-spanning slate...
18/03/2026
Back to All News
Preparatevi Alla Terza E Ultima Stagione De La Legge di Lidia ...
18/03/2026
Back to All News
Netflix Drops Teaser and First Look Images for The Chestnut M...
18/03/2026
New Playout-to-Delivery Capabilities Elevate ATSC 3.0 Experiences, Lower DTV In...
17/03/2026
NASA+'s Rebecca Sirmons and Brittany Brown offer unique look at live streami...
17/03/2026
The transition to IP has fundamentally reshaped professional media infrastructures. Video, audio, and increasingly metadata now circulate as independent, precis...