Company:Progress Software

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Short description: American software company


Progress Software
FormerlyData Language Corporation
TypePublic
NASDAQ: PRGS
S&P 600 Component
IndustryComputer software
Founded1981
Headquarters
Burlington, Massachusetts
,
United States
Key people
Yogesh Gupta (President & CEO)
Revenue$602 million (2022)[1]
Number of employees
2,100[2]
Websitewww.progress.com

Progress Software Corporation (Progress) is an American public company that produces software for creating and deploying business applications. Founded in Burlington, Massachusetts with offices in 16 countries, the company posted revenues of $531.3 million (USD) in 2021 and employs approximately 2100 people.[3]

History

Progress Software was co-founded by several MIT graduates, including Joseph W. Alsop, Clyde Kessel, and Chip Ziering in 1981.[4] Originally called Data Language Corporation (DLC), the company changed its name to Progress Software in 1987, the same name of its main product, Progress. In May 2016, Progress Software re-branded as "Progress" in an effort to "shed any doubts it was not living up to its name".[5]

In October 2002, Progress Software acquired Stylus Studio developer eXcelon Corporation for approximately $24 million.[6] n December 2003, Progress Software acquired DataDirect Technologies for $88 million.[7] In 2004, Progress Software acquired Persistence Software for $16 million.[8] In 2005, Progress acquired complex event processing company Apama.[9] In January 2006, Progress Software acquired Actional Corporation.[10] In March 2006, Progress Software acquired Neon Systems, a company specializing in modernizing 3270 applications.[11][12]

In June 2008, Progress Software acquired Xcalia, a data integration company, and Mindreef, which developed SOAPscope products.In September 2008, Progress acquired IONA Technologies, developer of service-oriented architecture platforms Artix and Orbix, for $146 million.[13][14] In April 2011, Progress Software sold their SWIFT integration product "ADS" (formally Iona's "Artix Data Services") to C24 Technologies Ltd. The product was re-branded to its former name "Integration Objects". In 2010, Progress Software acquired business process management vendor Savvion Inc.[15][16]

In 2012, Progress announced its shift to become a much more narrowly focused specialist vendor, looking to sell or decommission most of their existing products.[17][18] In June 2012, the company sold its open source division FuseSource, which was spun out from the IONA business in October 2010, to Red Hat.[19] In October 2012, Progress Software sold the brands Sonic, Savvion, Actional and DataXtend (DXSI) to Trilogy which created the company Aurea Software.[20] In December 2012, the Orbix, Orbacus and Artix product lines were sold to Micro Focus International for $15 million.[21]

In June 2013, Progress Software acquired Rollbase Inc.[22] and Software AG acquired Apama activities from Progress Software.[23] In June 2014, Progress announced that it had acquired Cincinnati-based Modulus.[24] In December 2014, Progress acquired Telerik, a provider of application development tools.[25][26] On May 1, 2019, Progress Software acquired Ipswitch, Inc., an IT management vendor known for its MOVEit managed file transfer platform.[27][28] On September 8, 2020, Progress Software announced the acquisition of Chef Software Inc., the developers of the Chef configuration management tool. The acquisition was completed by October 2020.[29][30][31] On September 23, 2021, Progress Software acquired Kemp Technologies, who build load balancing products.[32] The acquisition was completed on November 1, 2021.[33] On January 3, 2023, Progress Software acquired database vendor MarkLogic Corporation.[34]

Products

The Progress portfolio includes solutions for enterprise integration, data interoperability, and application development, including Software as a Service (SaaS) enablement and delivery.

Current products

  • Sitefinity[35] – web content management.
  • Sitefinity Digital Experience Cloud – customer experience tool for customer journey analysis, personalization, and optimization.
  • NativeChat – an AI platform for creating and deploying chatbots.[36]
  • Corticon[37] – business rules engine.
  • Kemp LoadMaster
  • Flowmon
  • WhatsUp Gold
  • Kendo UI – UI toolkit for web development.[38]
  • Telerik – UI tools for .NET development.[39]
  • Test Studio[40] – test automation.
  • Fiddler Everywhere
  • DataDirect Connectors[41] – connectors to integrate data across relational, big data and cloud databases.
  • DataDirect Hybrid Data Pipeline[42] – hybrid connectivity to data in the cloud or on-premises.
  • OpenEdge[43] – platform for building business applications and database management system.

Data breaches

In 2023, a security vulnerability in Progress-owned file transfer software MOVEit was exploited in a data breach affecting various companies and government organizations.[44] A running total maintained by cybersecurity company Emsisoft showed that more than 2,500 organizations were known to have been impacted as of October 25, 2023 with more than 80 percent of those organizations being US-based.[45] The cybercriminal organization Clop was alleged to have been partially responsible for the attacks,[46] and claimed responsibility for breaches of 1st Source, the BBC, British Airways, the New York City Department of Education,[47] Putnam Investments, and Shell among others.[48][49]

References

  1. ↑ "Progress Reports 2022 Fiscal Fourth Quarter and Year End Results". https://investors.progress.com/node/25811/pdf. 
  2. ↑ "Progress Software Corporation - Annual Report 2021". https://investors.progress.com/sec-filings/sec-filing/10-k/0000876167-22-000038. 
  3. ↑ "0000876167-22-000038 | 10-K | Progress Software Corporation" (in en). https://investors.progress.com/sec-filings/sec-filing/10-k/0000876167-22-000038. 
  4. ↑ "MIT-Related Companies with 10,000 Employees or More". Massachusetts Institute of Technology. http://web.mit.edu/newsoffice/founders/Table1.html. 
  5. ↑ Hofherr, Justine (November 8, 2016). "After 35 years, Progress Software introduces a new name and vision". https://www.builtinboston.com/blog/after-35-years-progress-software-introduces-new-name-and-vision. 
  6. ↑ Service, Scarlet Pruitt, IDG News (2002-10-21). "Progress buys XML tool maker eXcelon" (in en). https://www.computerworld.com/article/2578797/progress-buys-xml-tool-maker-excelon.html. 
  7. ↑ "SEC Form 8-K: Progress Software Corporation". United States Securities and Exchange Commission. December 5, 2003. http://investors.progress.com/secfiling.cfm?filingID=950135-03-5974. 
  8. ↑ "PROGRESS SOFTWARE CORPORATION TO ACQUIRE PERSISTENCE SOFTWARE TO ACCELERATE GROWTH OF OBJECTSTORE OPERATING COMPANY" (in en). September 28, 2004. https://www.bobsguide.com/guide/news/2004/Sep/28/progress-software-corporation-to-acquire-persistence-software-to-accelerate-growth-of-objectstore-operating-company/. 
  9. ↑ "Progress Software acquires algorithmic technology vendor Apama" (in en). 2005-04-07. https://www.finextra.com/newsarticle/13477/progress-software-acquires-algorithmic-technology-vendor-apama. 
  10. ↑ Gardner, W. David (January 1, 2006). "Progress Software acquires Actional for US$32 million". itnews.com.au. http://www.itnews.com.au/newsstory.aspx?CIaNID=23684. 
  11. ↑ "Progress Software Acquires NEON Systems". March 23, 2006. http://www.forrester.com/rb/Research/progress_software_acquires_neon_systems/q/id/39158/t/2. 
  12. ↑ "Progress Software Corporation to Acquire NEON Systems Creating Unparalleled Data Connectivity Leader". Finanzen.net. December 20, 2005. http://www.finanzen.net/nachricht/Progress-Software-Corporation-to-Acquire-NEON-Systems-Creating-Unparalleled-Data-Connectivity-Leader-63458. 
  13. ↑ Phelan, Andrew (26 June 2008). "Trinity boys sell college firm for $162m". Irish Independent. https://www.independent.ie/regionals/herald/news/trinity-boys-sell-college-firm-for-162m-27876930.html. 
  14. ↑ eWeek Wed, 25 June 2008
  15. ↑ "Progress Software Corporation Acquiring BPM Leader, Savvion Inc. - PC World Australia" (in en-AU). https://www.pcworld.idg.com.au/article/332153/progress_software_corporation_acquiring_bpm_leader_savvion_inc_/. 
  16. ↑ Reading 1/12/2010, News Wire Feed Light. "Progress Buys Savvion" (in en). https://www.lightreading.com/spit-(service-provider-it)/oss/progress-buys-savvion/d/d-id/673698. 
  17. ↑ "Empowering Organizations Through Digital Transformation - Progress". http://www.progress.com/en/inthenews/progress-announces-s-58698.html. 
  18. ↑ "John R. Rymer's Blog". April 29, 2012. http://blogs.forrester.com/john_r_rymer/12-04-29-progress_software_lowers_its_sights. 
  19. ↑ Morgan, Timothy Prickett (June 28, 2012). "Red Hat snaps up open source SOAer FuseSource". The Register. https://www.theregister.co.uk/2012/06/28/redhat_buys_fusesource/. 
  20. ↑ "Progress Software Announces Agreement to Sell Four Non-Core Product Lines to Investment Arm of Trilogy Enterprises (NASDAQ:PRGS)". http://investors.progress.com/releasedetail.cfm?releaseid=714525. 
  21. ↑ Micro Focus International plc 2012-12-24
  22. ↑ "Progress Software buys a new front-end for its PaaS play". June 12, 2013. http://www.information-age.com/industry/software/123457122/progress-software-buys-a-new-front-end-for-its-paas-play#sthash.uM6t1Ina.dpuf. 
  23. ↑ "Software AG buys complex-event processing technology from Progress" (in en). 2013-06-13. https://www.pcworld.com/article/2041677/software-ag-buys-complexevent-processing-technology-from-progress.html. 
  24. ↑ "Progress Acquires Modulus; Enables Fast, Scalable Node.js and MongoDB App Development and Deployment (NASDAQ:PRGS)". http://investors.progress.com/releasedetail.cfm?ReleaseID=853083. 
  25. ↑ "Progress Completes Acquisition of Telerik and Expands Executive Management Team (NASDAQ:PRGS)". http://investors.progress.com/releasedetail.cfm?ReleaseID=885580. 
  26. ↑ "Progress Software Buys Telerik for $262.5M As Buying Spree Continues". October 22, 2014. https://techcrunch.com/2014/10/22/progress-software-buys-telerik-for-262-5m-as-buying-spree-continues. 
  27. ↑ "Progress acquires Ipswitch for $225 million, tops first quarter targets". https://www.zdnet.com/article/progress-acquires-ipswitch-for-225-million-tops-first-quarter-targets/. 
  28. ↑ "Progress Completes Acquisition of Ipswitch, Inc". http://investors.progress.com/news-releases/news-release-details/progress-completes-acquisition-ipswitch-inc. 
  29. ↑ "Progress Announces Acquisition of Chef". 2020-09-08. https://investors.progress.com/news-releases/news-release-details/progress-announces-acquisition-chef. 
  30. ↑ "The Fourth Chapter of Chef Has Arrived: Progress to Purchase Chef". 2020-09-08. https://blog.chef.io/the-fourth-chapter-of-chef-has-arrived-progress-to-purchase-chef/. 
  31. ↑ "Progress snags software automation platform Chef for $220M" (in en-US). https://social.techcrunch.com/2020/09/08/progress-snags-software-automation-platform-chef-for-220m/. 
  32. ↑ Yogesh Gupta (2021-09-23). "Progress To Acquire Kemp". https://www.progress.com/blogs/progress-to-acquire-kemp. 
  33. ↑ "Progress Completes Acquisition of Kemp". 2021-11-01. https://investors.progress.com/news-releases/news-release-details/progress-completes-acquisition-kemp. 
  34. ↑ Yogesh Gupta (2023-01-03). "Progress to Acquire NoSQL Database Pioneer, MarkLogic". https://www.progress.com/blogs/progress-to-acquire-nosql-database-pioneer-marklogic. 
  35. ↑ "Progress ups front-end & back-end developer tools - CW Developer Network" (in en). https://www.computerweekly.com/blog/CW-Developer-Network/Progress-ups-front-end-back-end-developer-tools. 
  36. ↑ Bridgwater, Adrian (March 20, 2018). "Progress Teaches Chatbots To Talk". Forbes. https://www.forbes.com/sites/adrianbridgwater/2018/03/20/progress-teaches-ai-chatbots-to-talk/#6f2708d43455. 
  37. ↑ "Progress: Pennsylvania automates IT processes and modernizes human services systems". https://www.americancityandcounty.com/2016/08/09/pennsylvania-automates-it-processes-and-modernizes-human-services-systems/. 
  38. ↑ "Progress Adds Support for React and Vue in Newest Release of Kendo UI". September 15, 2018. https://sdtimes.com/facebook/27091-2. 
  39. ↑ Bridgewater, Adrian (February 9, 2018). "Progress Goes on Louder on React, Xamarin & Fluent – themed design". ComputerWeekly. https://www.computerweekly.com/blog/CW-Developer-Network/Progress-goes-on-louder-on-React-Xamarin-Fluent-themed-design. 
  40. ↑ "Progress Test Studio: Automated Testing Made Easy" (in en). https://www.globetesting.com/wp-content/uploads/2014/10/automated-testing-tools1. 
  41. ↑ "Progress Releases New DataDirect Connector for Apache Cassandra" (Press release). December 12, 2016.
  42. ↑ "Deploying Progress DataDirect Hybrid Data Pipeline on Amazon Lightsail - DZone Big Data" (in en). https://dzone.com/articles/deploying-progress-datadirect-hybrid-data-pipeline. 
  43. ↑ "Progress OpenEdge 11.7 Delivers New Capabilities to Strengthen Mission-Critical Business Applications". 6 April 2017. http://www.dbta.com/Editorial/News-Flashes/Progress-OpenEdge-117-Delivers-New-Capabilities-to-Strengthen-Mission-Critical-Business-Applications-117406.aspx. 
  44. ↑ Goodin, Dan (June 5, 2023). "Mass exploitation of critical MOVEit flaw is ransacking orgs big and small". Ars Technica. https://arstechnica.com/information-technology/2023/06/mass-exploitation-of-critical-moveit-flaw-is-ransacking-orgs-big-and-small/. 
  45. ↑ Simas, Zach (2023-07-18). "Unpacking the MOVEit Breach: Statistics and Analysis" (in en-US). https://www.emsisoft.com/en/blog/44123/unpacking-the-moveit-breach-statistics-and-analysis/. 
  46. ↑ Service, CISA (2023-06-07). "CL0P Ransomware Gang Exploits CVE-2023-34362 MOVEit Vulnerability" (in en). https://www.cisa.gov/sites/default/files/2023-07/aa23-158a-stopransomware-cl0p-ransomware-gang-exploits-moveit-vulnerability_8.pdf. 
  47. ↑ "Clop ransomware gang obtained personal data of 45,000 New York City students in MOVEit hack" (in en-US). https://www.engadget.com/clop-ransomware-gang-obtained-personal-data-of-45000-new-york-city-students-in-moveit-hack-204655820.html. 
  48. ↑ Lyngaas, Sean (2023-06-07). "Russian-speaking cyber gang claims credit for hack of BBC and British Airways employee data | CNN Business" (in en). https://www.cnn.com/2023/06/07/tech/clop-russia-moveit-hack-payroll-uk/index.html. 
  49. ↑ Page, Carly (2023-06-15). "Ransomware gang lists first victims of MOVEit mass-hacks, including US banks and universities" (in en-US). https://techcrunch.com/2023/06/15/moveit-clop-mass-hacks-banks-universities/. 



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