Agility, infusing applications with real-time communications functionality, and mobility are three key trends of today. Addressing all of the above, Progress Software (News - Alert) Corp. is moving to acquire Telerik AD for $262.5 million. The deal is expected to close this month.
This deal comes on the heels of Progress Software’s acquisition of BravePoint Inc., an application development, consulting, and training firm out of Georgia that Progress announced the acquisition earlier this year.
Telerik, whose tools are used by more than 1.4 million developers at more than 130,000 customers, generated more than $60 million in revenue in the last 12 months and has seen its annual booking growth more than 20 percent. It will retain the Telerik brand following the acquisition.
Progress Software, listed as a Visionary in Gartner’s (News - Alert) Magic Quadrant for Enterprise Application Platform-as-a-Service, specializes in the development, deployment, integration, and management of business applications. Its solutions are used by 140,000 customers, including 90 percent of the Fortune 500.
"User experience is defining the way application software is being selected. Telerik’s strength is in helping developers create elegant, custom user interfaces for their cloud, web-based and on-premise applications,” said Phil Pead, Progress CEO. “Building applications today is truly complex. Developers also must deal with security, scaling, massive amounts of data and the ability to deploy on a large number of different devices. Together, Progress and Telerik can help to solve these issues so that developers can focus on building software that solves business problems.”
In a May press release announcing a new release of Progress Easyl, John Goodson, chief product officer at Progress, noted: "The number of applications that businesses rely on for their decision making is exploding. Whether it's sales data, customer lists or lead flows, organizations of all sizes have multiple, ever-changing data sources they need to consolidate, analyze and report on in order to make the best decisions.”
Edited by Maurice Nagle