
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...
03/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
03/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
03/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
03/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
03/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
03/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
02/03/2026
NBC Sports selected Imaginary Forces to create the main title sequence for the M...
02/03/2026
The NFL announces the launch of the NFL Draft Innovation Challenge, a new crowds...
02/03/2026
The World Teleport Association (WTA) has named Skyline Communications' DataMiner SatOps solution as a finalist for the 2026 Teleport Technology of the Year ...
02/03/2026
Ventum Tech announces a strategic partnership with Pixotope, a real-time graphic...
02/03/2026
Victory , a free, ad-supported sports streaming service, announces the launch of...
02/03/2026
Global powerhouse Delta Goodrem to represent Australia at this year's Eurovi...
02/03/2026
SBS brings together prominent voices to discuss rising social division and seek ...
02/03/2026
NITV Unveils Wednesday Night Sport Night
Media releases
A Midweek Hub for Blak Sport
Flagship NRL program Over The Black Dot moves to Wednesdays at 9:30pm
...
02/03/2026
Rohde & Schwarz demonstrates FR1-FR3 carrier aggregation, advancing 6G readiness Rohde & Schwarz and Qualcomm Technologies, Inc. have reached another pivotal ...
02/03/2026
MELBOURNE, Fla., March 2, 2026 - L3Harris Technologies (NYSE: LHX) today announc...
02/03/2026
Harvey Norman tops New Zealand's biggest ad spenders as retail leads and telcos and beverages sure Auckland March 3, 2026 - Nielsen's New Zealand'...
02/03/2026
aconnic AG (ISIN: DE000A0LBKW6), Munich, and Arqit Quantum Inc. (Nasdaq: ARQQ, A...
02/03/2026
Advanced Systems Group, LLC (ASG), a technology and services provider for media creatives and content owners, has appointed Jody Boatwright as Chief Strategy Of...
02/03/2026
Lightware, an industry leader in signal management, is reinforcing its commitment to simplifying complex AV environments with the continued evolution of its TPN...
02/03/2026
ZEISS Cinema opens its doors to an exclusive screening, filmmakers Q&A and hands-on showcase of the new ZEISS Aatma lens family on Tuesday, March 10, 6:00-9:00 ...
02/03/2026
To expand the creative potential of the compact Astera QuikBeam, DoPchoice introduces the SNAPBAG Round. The new light-shaping accessory transforms the powerfu...
02/03/2026
Douglas Dubler
On a rooftop in New York City, veteran photographer Douglas Dubler watched the sun's angle shift across the urban landscape, his internal cl...
02/03/2026
ZEISS is expanding its Otus ML lens family with the introduction of the new ZEISS Otus ML 1.4/35. This manual-focus lens is designed for photographers who live ...
02/03/2026
Matthews Studio Equipment now offers the new Dinkum Systems White FlexiMount and Phone Mount Kit, a compact, highly adaptable setup for mobile content creation...
02/03/2026
Luxembourg, February 26, 2026 - SES and Africa Mobile Network (AMN) have expande...
02/03/2026
02 03 2026 - Media release Ausfilm and Screen Australia launch joint UK market initiative
Ausfilm and Screen Australia have announced Partner with Australia (...
02/03/2026
Monday 2 March 2026
Saturday Night Live UK announces writing team
L-R: Jonno Johnson; Charlie Skelton; Celya AB; Omar Badawy; Gr inne Maguire; Laura Claxton; ...
02/03/2026
Back to All News
Netflix Unveils the Trailer for 53 Sundays, the New Film by Cesc Gay
Entertainment
02 March 2026
GlobalSpain
Link copied to clipboard
Dis...
28/02/2026
With two features seen in Formula 1 coverage, the broadcaster aims to bring view...
28/02/2026
Secretary of War Pete Hegseth addresses a crowd of approximately 1,500 L3Harris employees in Camden, Arkansas, as part of his Arsenal of Freedom tour....
28/02/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
28/02/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
28/02/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
28/02/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
28/02/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
28/02/2026
Berklee Presents Mambo Mania: Eguie Castrillo and the Berklee All-Stars Big Band...
28/02/2026
Berklee Announces Two New Summer Programs in Los Angeles The Berklee Music Business Program and Electronic Music Production and Sound Design Workshop bring imme...
28/02/2026
AI-RAN is moving from lab to field, showing that a software-defined approach is ...
28/02/2026
Autonomous networks - intelligent, self-managing telecommunications operations -...
28/02/2026
Back to All News
Final Trailer for BEASTARS Final Season Part 2' Roars Tow...
28/02/2026
New way to intentionally discover molecular glues could expand drug discovery Scripps Research scientists and colleagues show how drugs that eliminate certain d...
27/02/2026
The E.W. Scripps Company names Oliver Gray as Vice President, Network Sports and...
27/02/2026
The Gotham Sports App, the exclusive direct-to-consumer streaming home of MSG Networks and the YES Network, is now available for purchase through Prime Video fo...