Progress to buy Cloud Software unit ShareFile for $875 million

Quick Summary:

Progress Software said on Monday it would buy Cloud Software Group's unit ShareFile for about $875 million, as the AI-powered software firm looks to boost its enterprise product portfolio.

The transaction is expected to close within Progress' fiscal year ending Nov.30.

Its products are used by customers to automate business processes, transfer data, and fix network problems by monitoring IT infrastructure.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Software Revenue Progress Share Sharefile Expected Million Unit Fiscal Monday Burlington

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-09 @ 20:08:04 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 256 words

Reading Time: 2 minutes read

Sentences: 12 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 22425796

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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Year Established: 1999

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News Last Updated: 2 hours ago

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