secwatch.observer — SEC 8-K summary
======================================

Issuer:     PROGRESS SOFTWARE CORP /MA (PRGS)
CIK:        0000876167
Form:       8-K/A
Filed at:   2025-01-10T23:59:59+00:00
Accession:  0000876167-25-000004
Event type: m_and_a
Sentiment:  negative
Materiality: 0.65
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/876167/000087616725000004/0000876167-25-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/876167/000087616725000004/prgs-20241031.htm
  HTML page:      https://secwatch.observer/filing/0000876167-25-000004

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