Progress Software acquires ShareFile for $875m, adding $240m annual revenue and 86k customers.
Progress Software Corporation has announced its acquisition of ShareFile, an AI-driven document collaboration platform, for $875 million. This deal is expected to add over $240 million in annual revenue and 86,000 customers. The acquisition, pending regulatory approval, should close by November 30, 2024. Following the acquisition, Progress will suspend its quarterly dividend to focus on debt repayment and enhance liquidity for future investments.
September 09, 2024
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