secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESS SOFTWARE CORP /MA (PRGS)
CIK:        0000876167
Form:       8-K
Filed at:   2023-01-03T23:59:59+00:00
Accession:  0000876167-23-000004
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Progress Software to acquire MarkLogic for $355M cash; reports preliminary Q4 ARR ~$497M
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- Acquires all equity of Vector Maven Holdings (MarkLogic) for ~$355M in cash; expected close early 2023.
- Deal adds >$100M in annual revenue; MarkLogic offers NoSQL database and semantic metadata management.
- Preliminary Q4 2022 ARR ~$497M (+3.5% YoY); non-GAAP revenue/EPS at or above high end of guidance.
- No financing condition; subject to HSR waiting period and other customary closing conditions.
- Jefferies advised MarkLogic; DLA Piper for Progress and Paul Hastings for MarkLogic.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/876167/000087616723000004/0000876167-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/876167/000087616723000004/prgs-20230103.htm
  HTML page:      https://secwatch.observer/filing/0000876167-23-000004

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