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Published on 21 Sep 2024 on Benzinga · via Yahoo Finance

Progress Software's Big Bet: Acquires ShareFile For $875M While Hitting Pause On...

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Progress Software's Big Bet: Acquires ShareFile For $875M While Hitting Pause On Dividends

Progress Software Corporation (NASDAQ:PRGS) shares are trading lower on Monday. The company entered a definitive deal to acquire ShareFile for $875 million, in a combination of cash and an existing revolving credit facility.

ShareFile offers SaaS-native, AI-powered document-centric collaboration for sectors including business services, financial services, healthcare, and construction.

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