Progress Completes Acquisition of MarkLogic

Progress, a provider of application development and infrastructure software, announced it has completed the acquisition of MarkLogic, a leader in complex data and semantic metadata management and a Vector Capital portfolio company.

“Our Total Growth Strategy consists of three pillars—Invest and Innovate, Acquire and Integrate and Drive Customer Success. The MarkLogic acquisition aligns with this approach by adding industry-leading products to our already-strong portfolio, new and meaningful customer relationships to our large customer base and significant revenue to our top line,” said Yogesh Gupta, CEO, Progress. “Expanding our ability to serve our customers propels their business success. This is an exciting opportunity, and we are thrilled to move forward together.”

The acquisition represents another major milestone in Progress’ Total Growth Strategy, according to the vendor.

MarkLogic extends Progress’ capabilities beyond structured data with a powerful NoSQL database, informed search, and semantic AI.

It enables users to connect, create and consume complex, contextual data and addresses a variety of high-value use cases such as complex customer data challenges, large data volumes, multiple data sources and types—yet manages it all natively from a single unified platform, according to the vendor.

As previously reported, Progress acquired MarkLogic for a purchase price of $355 million. The transaction is expected to be accretive to both non-GAAP earnings per share and cash flow, beginning in Q2 2023.

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