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Progress Completes Acquisition of MarkLogic
February 07, 2023
Progress announced the completion of the acquisition of MarkLogic.
“Our Total Growth Strategy consists of three pillars—Invest and Innovate, Acquire and Integrate and Drive Customer Success. The MarkLogic acquisition aligns with this approach,” said Yogesh Gupta, CEO, Progress. “Expanding our ability to serve our customers propels their business success.”
MarkLogic extends Progress’ capabilities beyond structured data with a powerful NoSQL database, informed search and semantic AI. It enables users to connect, create and consume complex, contextual data and addresses a variety of high-value use cases such as complex customer data challenges, large data volumes, multiple data sources and types—yet manages it all natively from a single unified platform.
“MarkLogic presents a unique opportunity for Progress customers. By expanding our data capabilities, our customers gain more agility as to how and where they can leverage their data,” said John Ainsworth, Executive VP, GM, Application and Data Platform, Progress. “At the same time, MarkLogic customers gain access to a global leader with a proven track record in the software infrastructure space."
As previously announced, Progress acquired MarkLogic for a purchase price of $355 million. The transaction is expected to be accretive to both non-GAAP earnings per share and cash flow, beginning in Q2 2023.
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