Progress Acquires Ipswitch, Inc.
May 1, 2019
Progress (NASDAQ: PRGS) has completed the acquisition of Ipswitch, Inc., a provider of secure data file transfer and network management software, for $225 million in cash. The purchase brings products such as MOVEit, WhatsUp Gold and WS_FTP into Progress’ portfolio to bolster its offerings for SMBs and enterprise customers and is expected to be immediately accretive to non-GAAP EPS and cash flow.
- Buyers
- Progress
- Targets
- Ipswitch, Inc.
- Industry
- Software
- Location
- Massachusetts, United States
- Transaction Type
- Buyout
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