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Progress Software

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This is an old revision of this page, as edited by 69.243.244.40 (talk) at 01:40, 23 November 2023 (Added information about security vulnerabilities and data breaches associated with company. These are likely the most publicity causing events for this company as of 2023 and were the subject of numerous government advisories, industry advisories, and news articles.). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Progress Software
FormerlyData Language Corporation
Company typePublic
Nasdaq: PRGS
S&P 600 Component
IndustryComputer software
Founded1981
FounderCharles Ziering
Clyde Kessel
Joseph Alsop
Mary Davis Edit this on Wikidata
Headquarters
Burlington, Massachusetts
,
U.S.
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]

Products

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

Current Product Portfolio

Digital Experience

  • Sitefinity[6] – web content management.
  • Sitefinity Digital Experience Cloud – customer experience tool for customer journey analysis, personalization, and optimization.
  • NativeScript – open source platform for building cross-platform native iOS and Android mobile apps.[7][8]
  • NativeChat – an AI platform for creating and deploying chatbots.[9]
  • Corticon[10] – business rules engine.

Infrastructure Management and Operations

DevOps

UI/UX Tools

  • Kendo UI – UI toolkit for web development.[11]
  • Telerik – UI tools for .NET development.[12]
  • Test Studio[13] – test automation.
  • Fiddler Everywhere

Secure Data Connectivity and Integration

  • DataDirect Connectors[14] – connectors to integrate data across relational, big data and cloud databases.
  • DataDirect Hybrid Data Pipeline[15] – hybrid connectivity to data in the cloud or on-premises.

Secure File Transfer

Mission-Critical App Platform

  • OpenEdge[16] – platform for building business applications and database management system.

Security Vulnerabilities

In May 2023, there were major data breaches affecting thousands of companies and government agencies, caused by trivial security vulnerabilities in the MOVEit file transfer software. Based on open source intelligence from cybersecurity professionals close to the response, the vulnerabilities were likely caused by unaddressed technical debt and legacy code in the alleged secure software. [17] The Clop ransomware gang was alleged to have been partially responsible for the attacks.[18] A running total maintained by cybersecurity company Emsisoft showed that more than 2,500 organizations were known to have been impacted as at October 25, 2023 with more than 80 percent of those organizations being US-based.[19]


Mergers and Acquisitions

  • In October 2002, Progress Software acquired Boston based eXcelon Corporation (Nasdaq: EXLN, formerly Object Design, Nasdaq: ODIS) for approximately US$24 Million.[20] eXcelon created an XML IDE, Stylus Studio, which is now marketed by Progress Software.
  • In December 2003, Progress Software acquired DataDirect Technologies Ltd. for $88 million.[21]
  • In 2004, Progress Software bought out Persistence Software for $16 million.[22]
  • In 2005, Progress acquired Apama and entered the Complex event processing Space.[23]
  • In January 2006, Progress Software acquired Mountain View-based Actional Corporation, which itself was the merger between Actional Corporation and WestBridge Technologies (an XML Security company). Actional focuses on providing enterprise-class SOA Management, Security, and run-time Governance solutions that cross vendor and protocol boundaries, based upon open standards.[24]
  • In March 2006, Progress Software acquired Neon Systems (Nasdaq: NEON), which offers a set of capabilities for companies seeking to modernize existing 3270 applications.[25][26] In 2010, Progress Software acquired the Santa Clara-based Savvion Inc., a provider of Business Process Management technology.[27][28] Later that year, Progress announced the introduction of its Responsive Process Management (RPM) suite, including its Progress Control Tower.
  • In June 2008, Progress Software acquired Xcalia, a data integration company, and Mindreef, which developed SOAPscope products.
  • In September 2008, Progress acquired IONA Technologies. IONA brought three product lines into the fold: FUSE (open source SOA), Artix (commercially licensed SOA), and Orbix (CORBA infrastructure).
  • In April 2011, Progress Software sold their SWIFT integration product "ADS" (formally Iona's "Artix Data Services") to C24 Technologies Ltd (UK). The product was re-branded to its former name "Integration Objects".
  • 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.[29][30]
  • In June 2012, the company sold its subsidiary FuseSource, which was spun out from Progress in October 2010, to Red Hat.[31] In October 2012, Progress Software sold the brands Sonic, Savvion, Actional and DataXtend (DXSI) to Trilogy which created the company Aurea Software.[32] The company also announced that Jay Bhatt planned to step down from the positions and as a director, effective December 7.
  • In June 2013, Progress Software acquired Rollbase Inc.[33] and Software AG acquired Apama activities from Progress Software.[34]
  • In June 2014, Progress Software announced that it had acquired Cincinnati-based Modulus.[35]
  • In December 2014, Progress Software acquired Telerik, a provider of application development tools.[36][37]
  • On May 1, 2019, Progress Software acquired Ipswitch, Inc., an IT management software developer for small and medium-sized businesses, known for its MFT Software MOVEit Automation and MOVEit Transfer.[38][39]
  • On September 8, 2020, Progress Software announced the acquisition of Chef Software Inc., the developers of the Progress Chef configuration management tool. The acquisition was completed by October 2020.[40][41][42]
  • On September 23, 2021, Progress Software announced the acquisition of Kemp Technologies, who build load balancing products.[43] The acquisition was completed on 1 November 2021.[44]
  • On January 03, 2023, Progress Software announced the acquisition of MarkLogic Corporation, that develops and provides an enterprise NoSQL database, also named MarkLogic.[45]

References

  1. ^ "Progress Reports 2022 Fiscal Fourth Quarter and Year End Results". Retrieved January 17, 2023.
  2. ^ "Progress Software Corporation - Annual Report 2021". Retrieved January 28, 2022.
  3. ^ "0000876167-22-000038 | 10-K | Progress Software Corporation". investors.progress.com. Retrieved June 6, 2022.
  4. ^ "MIT-Related Companies with 10,000 Employees or More". Massachusetts Institute of Technology. Archived from the original on March 23, 2007. Retrieved April 2, 2007.
  5. ^ Hofherr, Justine (November 8, 2016). "After 35 years, Progress Software introduces a new name and vision". Builtinboston.com. Retrieved October 21, 2022.
  6. ^ "Progress ups front-end & back-end developer tools - CW Developer Network". www.computerweekly.com.
  7. ^ "NativeScript: Native Mobile Apps with Angular, TypeScript, JavaScript". NativeScript. Retrieved September 4, 2018.
  8. ^ Bridgwater, Adrian (May 30, 2018). "Progress Releases NativeScript 4.0". Computer Weekly. Retrieved September 4, 2018.
  9. ^ Bridgwater, Adrian (March 20, 2018). "Progress Teaches Chatbots To Talk". Forbes. Retrieved September 4, 2018.
  10. ^ "Progress: Pennsylvania automates IT processes and modernizes human services systems". www.americancityandcounty.com.
  11. ^ "Progress Adds Support for React and Vue in Newest Release of Kendo UI". September 15, 2018. Retrieved September 4, 2018.
  12. ^ Bridgewater, Adrian (February 9, 2018). "Progress Goes on Louder on React, Xamarin & Fluent – themed design". ComputerWeekly. Retrieved September 4, 2018.
  13. ^ "Progress Test Studio: Automated Testing Made Easy". Telerik.com.
  14. ^ "Progress Releases New DataDirect Connector for Apache Cassandra" (Press release). December 12, 2016.
  15. ^ "Deploying Progress DataDirect Hybrid Data Pipeline on Amazon Lightsail - DZone Big Data". dzone.com.
  16. ^ "Progress OpenEdge 11.7 Delivers New Capabilities to Strengthen Mission-Critical Business Applications". Database Trends and Applications. April 6, 2017.
  17. ^ Service, John Hammond (November 17, 2023). "The MOVEit Hack In Retrospect". YouTube. Retrieved November 22, 2023.
  18. ^ Service, CISA (June 7, 2023). "CL0P Ransomware Gang Exploits CVE-2023-34362 MOVEit Vulnerability" (PDF). CISA.gov. Retrieved November 22, 2023.
  19. ^ Unpacking the MOVEit Breach: Statistics and Analysis,
  20. ^ Service, Scarlet Pruitt, IDG News (October 21, 2002). "Progress buys XML tool maker eXcelon". Computerworld. Retrieved September 29, 2020.{{cite web}}: CS1 maint: multiple names: authors list (link)
  21. ^ "SEC Form 8-K: Progress Software Corporation". United States Securities and Exchange Commission. December 5, 2003.
  22. ^ "PROGRESS SOFTWARE CORPORATION TO ACQUIRE PERSISTENCE SOFTWARE TO ACCELERATE GROWTH OF OBJECTSTORE OPERATING COMPANY". bobsguide. September 28, 2004. Retrieved September 29, 2020.
  23. ^ "Progress Software acquires algorithmic technology vendor Apama". Finextra Research. April 7, 2005. Retrieved September 29, 2020.
  24. ^ Gardner, W. David (January 1, 2006). "Progress Software acquires Actional for US$32 million". itnews.com.au. Archived from the original on September 17, 2006. Retrieved April 2, 2007.
  25. ^ "Progress Software Acquires NEON Systems". March 23, 2006. Archived from the original on February 23, 2012.
  26. ^ "Progress Software Corporation to Acquire NEON Systems Creating Unparalleled Data Connectivity Leader". Finanzen.net. December 20, 2005. Retrieved September 3, 2014.
  27. ^ "Progress Software Corporation Acquiring BPM Leader, Savvion Inc. - PC World Australia". PC World. Retrieved September 29, 2020.
  28. ^ Reading 1/12/2010, News Wire Feed Light. "Progress Buys Savvion". Light Reading. Retrieved September 29, 2020.{{cite web}}: CS1 maint: numeric names: authors list (link)
  29. ^ "Empowering Organizations Through Digital Transformation - Progress". Progress.com. Archived from the original on January 14, 2013. Retrieved October 14, 2016.
  30. ^ "John R. Rymer's Blog". blogs.forrester.com. April 29, 2012. Retrieved October 14, 2016.
  31. ^ Morgan, Timothy Prickett (June 28, 2012). "Red Hat snaps up open source SOAer FuseSource". The Register. Retrieved September 3, 2014.
  32. ^ "Progress Software Announces Agreement to Sell Four Non-Core Product Lines to Investment Arm of Trilogy Enterprises (NASDAQ:PRGS)". investors.progress.com. Retrieved October 14, 2016.
  33. ^ "Progress Software buys a new front-end for its PaaS play". June 12, 2013.
  34. ^ "Software AG buys complex-event processing technology from Progress". PCWorld. June 13, 2013. Retrieved September 29, 2020.
  35. ^ "Progress Acquires Modulus; Enables Fast, Scalable Node.js and MongoDB App Development and Deployment (NASDAQ:PRGS)". investors.progress.com. Retrieved October 14, 2016.
  36. ^ "Progress Completes Acquisition of Telerik and Expands Executive Management Team (NASDAQ:PRGS)". investors.progress.com. Retrieved October 14, 2016.
  37. ^ "Progress Software Buys Telerik for $262.5M As Buying Spree Continues". October 22, 2014.
  38. ^ "Progress acquires Ipswitch for $225 million, tops first quarter targets". ZDNet.
  39. ^ "Progress Completes Acquisition of Ipswitch, Inc".
  40. ^ "Progress Announces Acquisition of Chef". Progress. September 8, 2020. Retrieved September 8, 2020.
  41. ^ "The Fourth Chapter of Chef Has Arrived: Progress to Purchase Chef". Chef Blog. September 8, 2020. Retrieved September 8, 2020.
  42. ^ "Progress snags software automation platform Chef for $220M". TechCrunch. Retrieved September 29, 2020.
  43. ^ Yogesh Gupta (September 23, 2021). "Progress To Acquire Kemp". Progress. Retrieved November 5, 2020.
  44. ^ "Progress Completes Acquisition of Kemp". Progress. November 1, 2021. Retrieved November 5, 2020.
  45. ^ Yogesh Gupta (January 3, 2023). "Progress to Acquire NoSQL Database Pioneer, MarkLogic". Progress. Retrieved January 20, 2023.
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