Progress completes $258M acquisition of Kemp, expects accretion in Q4 2021

PROGRESS SOFTWARE CORP /MA

Acquired Kemp (MPC Kappa) for ~$258M in cash from cash on hand.
Transaction expected to be accretive to non-GAAP EPS and cash flow starting Q4 2021.
Kemp adds Application Experience management to Progress's portfolio of DevOps, Digital Experience, NPMD tools.
CEO Yogesh Gupta cites total-growth strategy; Kemp follows prior Ipswitch and Chef acquisitions.

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