Progress Acquires ShareFile, Enhancing SaaS and AI-Powered Collaboration

Monday, 9 September 2024, 07:24

Progress has confirmed its acquisition of ShareFile, which adds more than $240M in annual revenue. This strategic move strengthens Progress's position in the SaaS market by integrating AI-powered document-centric collaboration. With this acquisition, Progress aims to enhance its offerings and expand its market share.
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Progress Acquires ShareFile, Enhancing SaaS and AI-Powered Collaboration

Progress Acquires ShareFile, A Game Changer in the SaaS Space

Progress has recently entered into a definitive agreement to acquire ShareFile, a prominent unit under the Cloud Software Group. This acquisition is set to add more than $240 million in annual revenue, marking a significant step in Progress’s growth trajectory.

What This Means for Progress

  • Strengthening its position in the competitive SaaS marketplace.
  • Integrating AI-driven solutions for enhanced document collaboration.
  • Expanding market share through innovative technological solutions.

The CEO of Progress, Yogesh Gupta, expressed enthusiasm about this acquisition, citing tangible benefits for customers and stakeholders alike.

  1. Enhancements in document-centric collaboration.
  2. Increased revenue streams.
  3. Broader service capabilities.

By acquiring ShareFile, Progress positions itself as a stronger competitor in the SaaS sector, ready to tackle future challenges and leverage opportunities.


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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