This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Progress Software Announces Agreement To Sell Apama Solution To Software AG

Progress Software Corporation (NASDAQ: PRGS) today announced it has signed a definitive agreement to sell its Progress ® Apama ® complex event processing solution to Software AG. The terms of the transaction were not disclosed.

Phil Pead, Progress President and CEO, said, “After careful consideration, we concluded that it is in Progress’ best interest to focus our business on providing leading cloud and mobile application development technologies through a single cohesive platform and to pursue the sale of the Apama solution. The Apama target market, deployment and sales model differ significantly from those of Progress’ application development platform and we feel this agreement protects our customers’ existing investments in the Apama solution.”

Dr. John Bates, Progress Chief Technology Officer and co-founder of Apama, who is expected to join Software AG to lead the Apama business unit, said, “Progress and Software AG are committed to ensuring a smooth transition for our Apama customers and employees around the world and will provide customers with uninterrupted support and continued platform development.”

The transaction is subject to customary closing conditions and is expected to be completed in Progress’ fiscal third quarter.

Pacific Crest Securities LLC is serving as Progress’ financial advisor with respect to the transaction and Wilmer Cutler Pickering Hale and Dorr LLP is serving as Progress’ legal counsel.

About Progress Software Corporation

Progress Software Corporation (NASDAQ: PRGS) is a global software company that simplifies the development, deployment and management of business applications on-premise or in the cloud, on any platform or device, to any data source, with enhanced performance, minimal IT complexity and low total cost of ownership. Progress Software can be reached at or 1-781-280-4000.

Progress and Apama are trademarks or registered trademark of Progress Software Corporation or one of its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,719.92 -78.57 -0.44%
S&P 500 2,082.71 -7.40 -0.35%
NASDAQ 5,113.1360 -14.3890 -0.28%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs