---
schema_version: "secwatch.filing_event.v1"
accession: "0001552781-24-000522"
form_type: "8-K"
ticker: "PRGS"
cik: "0000876167"
company_name: "PROGRESS SOFTWARE CORP /MA"
filed_at: "2024-09-09T23:59:59+00:00"
generated_at: "2026-05-31T05:59:40.168111+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Progress to acquire ShareFile for $875M; suspends dividend; Q3 guidance above high end

## Summary
- Acquisition from Cloud Software Group for $875M (cash + revolver); expected close by Nov 30, 2024.
- ShareFile adds ~$240M annual revenue and >86K customers; AI-powered document collaboration platform.
- Board suspends quarterly dividend after close; capital redirected to debt repayment, M&A, and buybacks.
- Q3 FY2024 revenue and non-GAAP EPS expected within or above high end of prior guidance (full results Sep 24).

## SEC filing metadata
- accession: 0001552781-24-000522
- form_type: 8-K
- ticker: PRGS
- cik: 0000876167
- company_name: PROGRESS SOFTWARE CORP /MA
- filed_at: 2024-09-09T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/876167/000155278124000522/0001552781-24-000522-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/876167/000155278124000522/e24386_prgs-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001552781-24-000522
- JSON: https://secwatch.observer/filing/0001552781-24-000522.json
- Plain text: https://secwatch.observer/filing/0001552781-24-000522.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.