Progress Acquires ShareFile for $875 Million
Summary
AI infrastructure software provider, Progress announced the acquisition of ShareFile, a cloud-based document centric collaboration platform for $875 million today. “ShareFile’s integration into our Digital Experience portfolio will empower organizations to streamline secure document sharing and enhance client and team collaboration,” said Yogesh Gupta, CEO of Progress. “This acquisition aligns with our commitment to providing businesses with the tools they need to succeed in today’s competitive landscape.” Progress’s existing suite of AI software solutions will be complemented by ShareFile’s AI document collaboration tools, client portals, secure file sharing and eSignature functionalities. This expanded offering will aim to empower businesses to improve efficiency, enhance security and deliver exceptional customer experiences. “We are excited to join forces with Progress and leverage their expertise to further strengthen ShareFile’s position as a leading provider of secure content collaboration solutions,” said Thomas Krause, CEO of Cloud Software Group.