Mon Sep 09 15:17:10 UTC 2024: ## Progress to Acquire ShareFile for $875 Million, Expanding its Software Portfolio
**Bedford, MA – October 24, 2023:** Progress, a leading software provider, announced today its intent to acquire ShareFile, a popular file management platform, for $875 million in cash and credit. The deal, expected to close by November 30, will significantly expand Progress’s software offerings and solidify its position in the cloud and enterprise file sharing market.
Progress CEO Yogesh Gupta highlighted the strategic importance of the acquisition, stating that it aligns with the company’s focus on providing comprehensive solutions for developers and businesses. The acquisition is expected to bring substantial benefits, including increased revenue, expanded customer base, and enhanced product capabilities.
ShareFile, with its strong reputation for secure and reliable file sharing, will complement Progress’s existing portfolio, providing a wider range of solutions for managing and collaborating on digital assets. The acquisition is seen as a major step forward in Progress’s growth strategy, fueling its commitment to innovation and customer satisfaction.
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