PROGRESS SOFTWARE CORP /MA (PRGS): M&A transaction — Progress Software completes $875M acquisition of ShareFile from Cloud Software Group

PROGRESS SOFTWARE CORP /MA

Purchased ShareFile for $875M in cash, funded by cash on hand and existing revolving credit facility.
ShareFile adds more than $240M in annual revenue and over 86,000 customers to Progress.
Platform provides AI-powered, document-centric collaboration for business, financial, and healthcare sectors.
Acquisition marks major milestone in Progress' Total Growth Strategy, expanding Digital Experience portfolio.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

PROGRESS SOFTWARE CORP /MA completed an acquisition involving Cloud Software Group, Inc. for $875 million in cash (closed 2024-10-31).

Action: acquisition
Counterparty: Cloud Software Group, Inc.
Consideration: $875 million in cash
Closing: 2024-10-31

Exact text from the filing

contemplated by the Purchase Agreement are collectively referred to as the “Transaction.” Upon the closing of the Transaction, Progress paid an aggregate purchase price of $875 million in cash, subject to a $25 million working capital credit, funded via a combination of cash on hand and an existing revolving credit facility. Pursuant to Rule 3-05 and Article 11

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PROGRESS SOFTWARE CORP /MA filing history →

Source: SEC EDGAR

accession 0001552781-24-000575

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