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Progress, a global software company, has signed a definitive agreement to buy privately held Kemp for $258 million. Progress will add Application Experience Management to its portfolio as a result of this acquisition.
Progress, a global software company, has announced that it has entered a definitive agreement to acquire Kemp, a provider of always-on application experience (AX) for its customers, in a $258 million all-cash deal. Progress is a global software company that makes it easier to develop, deploy, and manage business applications.
Due to this acquisition, Progress will add Application Experience Management to its portfolio of market-leading products in DevOps, Application Development, Data Connectivity, and Digital Experience.
Now more than ever, businesses recognize that their applications must always be available and highly performant. The Kemp products address this exact need and complement our portfolio of best-in-class products to develop, deploy and manage high-impact applications.Yogesh Gupta, CEO, Progress
Kemp Loadmaster and Flowmon Network Visibility products monitor application performance and distribute and balance traffic and workloads across servers, whether in the cloud or on-premises, to ensure high performance and availability. They utilize machine learning to detect anomalies and notify IT professionals before end-users are impacted. These capabilities supplement Progress offerings such as WhatsUp Gold, the market leader in simple network management. They will provide the best application experience solution on the market when combined.
Kemp meets Progress’ key acquisition criteria of adding recurring revenue, complementary technology, and loyal customers and will allow Progress to leverage its larger platform for improved efficiency.
We are extremely proud of what we’ve been able to achieve as a business. As part of Progress, I am confident Kemp will thrive in the next chapter of its journey. Not only will the combined product portfolio provide great benefit to our customers and partners, but the cultural alignment and customer-first focus demonstrated by both organizations are impressive and will surely lead to long-term success for all.Ray Downes, CEO, Kemp
The acquisition of Kemp also furthers our total growth strategy and will enable us to add scale and cash flow, creating significant shareholder value.Yogesh Gupta, CEO, Progress