Progress Software: ShareFile generated $183.6M revenue, $5.5M operating shortfall

PROGRESS SOFTWARE CORP /MA

ShareFile revenues of $183.6M vs direct expenses $189.1M, resulting in $5.5M shortfall for 9 months ended Sep 1, 2024.
Net assets acquired of $239.1M included $310.8M intangible assets and $98.3M liabilities assumed.
Progress paid $852.7M cash at closing (after $25M working capital credit) for the ShareFile business.
Unaudited pro forma combined financials for Progress and ShareFile filed as Exhibit 99.2.
No earnouts or contingent consideration in the ShareFile acquisition.

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