PRGS

Progress Software Corporation provides application development and digital experience technologies to enterprises worldwide. Headquartered in Burlington, Massachusetts, the company operates through three primary segments: OpenEdge, Data Connectivity and Integration, and Application and Business Intelligence. Progress serves approximately 100,000 customers across more than 180 countries, with around 2,300 employees globally. The company's portfolio includes OpenEdge, an application development platform for building multi-language applications; MOVEit, a managed file transfer solution; and Chef, an infrastructure automation platform. Progress also offers Sitefinity for digital experience management, DataDirect for data connectivity, and LoadMaster for application delivery and security. The company generates revenue primarily through software licenses, maintenance subscriptions, and cloud-based services. Progress has pursued an active acquisition strategy to expand its product offerings and market reach. Notable acquisitions include MarkLogic in 2022, a multi-model database platform, and ShareFile from Cloud Software Group in 2024, strengthening its secure content collaboration capabilities. The company reported annual revenue of approximately $690 million in fiscal 2023. Progress focuses on serving industries including financial services, healthcare, retail, and manufacturing, positioning itself as a provider of mission-critical infrastructure software. The company emphasizes recurring revenue models, with subscription and maintenance revenue representing a substantial portion of total revenue.