secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESS SOFTWARE CORP /MA (PRGS)
CIK:        0000876167
Form:       8-K
Filed at:   2023-02-07T23:59:59+00:00
Accession:  0000876167-23-000056
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Progress Software completes $355M acquisition of MarkLogic; expects accretion in Q2 2023
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- Completed acquisition of MarkLogic, a leader in complex data management, for $355 million.
- Deal expected to be accretive to non-GAAP EPS and cash flow beginning Q2 2023.
- Expands Progress' data capabilities with NoSQL database, semantic AI, and unified platform.
- Part of Total Growth Strategy; adds customer relationships and revenue.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/876167/000087616723000056/0000876167-23-000056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/876167/000087616723000056/prgs-20230207.htm
  HTML page:      https://secwatch.observer/filing/0000876167-23-000056

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