Progress to Acquire Ipswitch, for $225m
Summary
Progress (NASDAQ: PRGS), a Bedford, MA-based provider of application development and digital experience technologies, is to acquire Ipswitch, Inc. , a Burlington, Massachusetts-based producer of secure data file transfer and network management software, for $225m. The acquisition will bolster Progress’ core offerings to small and medium-sized businesses (SMBs) and enterprises. Founded in 1991 led by Yogesh Gupta, CEO, Ipswitch provides products such as MOVEit®, WhatsUp® Gold and WS_FTP®, which enable small and medium-sized businesses and enterprises to provide secure data sharing and ensure high-performance infrastructure availability. – WhatsUp® Gold enables small and medium-sized businesses and enterprises to continuously monitor and manage their IT infrastructure and applications, assuring high levels of performance and availability. – WS_FTP® delivers FTP-based secure file transfer server and client capabilities to meet the needs of small and mid-sized businesses.
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