secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESS SOFTWARE CORP /MA (PRGS)
CIK:        0000876167
Form:       8-K
Filed at:   2021-11-02T23:59:59+00:00
Accession:  0000876167-21-000157
Event type: m_and_a
Sentiment:  positive
Materiality: 0.65
Item codes: 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/876167/000087616721000157/0000876167-21-000157-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/876167/000087616721000157/prgs-20211101.htm
  HTML page:      https://secwatch.observer/filing/0000876167-21-000157

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer