Raleigh Software Firm Sold in $875 Million Acquisition Deal

Monday, 9 September 2024, 07:40

Software acquisition is at the forefront of the tech industry as Progress Software Corp. announces the $875 million purchase of Raleigh's ShareFile. This significant deal is set to reshape application development and infrastructure software landscapes. As cloud solutions gain traction, ShareFile's integration into Progress Software is anticipated to spark further innovation.
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Raleigh Software Firm Sold in $875 Million Acquisition Deal

Software Acquisition Shakes Up Tech Landscape

In a move that underscores the importance of software acquisition within the tech ecosystem, Progress Software Corp. (Nasdaq: PRGS) has announced its intent to acquire ShareFile, a business unit of Cloud Software Group Inc., for a staggering $875 million. This acquisition is poised to enhance Progress's portfolio in application development and infrastructure software.

The Implications of this Major Deal

  • The acquisition signals strong demand for cloud-based solutions.
  • Progress Software aims to leverage ShareFile’s technology.
  • This merger could lead to new innovative offerings in the software market.

Furthermore, the integration of ShareFile is expected to drive advancements in software infrastructure, positioning Progress Software at the forefront of technological innovation.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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