Directories

Progress Software To Complete Non-Core Divestments Ahead Of Plan; Micro Focus To Buy Orbix, Artix, Orbacus Lines

BEDFORD, Mass. ---- Progress Software Corporation (NASDAQ: PRGS) today announced that it has signed a definitive agreement to sell its Orbix, Artix and Orbacus product lines to Micro Focus International plc. The total consideration to be received by Progress is $15 million plus the assumption by Micro Focus of the liabilities associated with these product lines.

Once finalized, the divestiture of these product lines will enable the company to complete the divestiture of its 10 non-Core product lines ahead of schedule, leaving the company to focus its innovation on a core portfolio of software products that address IT challenges in the rapidly growing cloud, big data, mobility and analytics markets. Taken together, the total sales price for all divested products and products under agreement to be divested is approximately $130 million.

The transaction is subject to customary closing conditions and is expected to be completed in January 2013. Terms were not disclosed. Upon completion, Progress will have divested all 10 of the 10 non-Core product lines that it announced in April 2012.

Pacific Crest Securities LLC is serving as Progress’ financial advisor with respect to the transaction and Wilmer Cutler Pickering Hale and Dorr LLP is serving as Progress’ legal counsel.

About Micro Focus

Micro Focus, a member of the FTSE 250, provides innovative software that allows companies to dramatically improve the business value of their enterprise applications. Micro Focus Enterprise Application Modernization, Testing and Management software enables customers' business applications to respond rapidly to market changes and embrace modern architectures with reduced cost and risk.
About Progress Software Corporation

Progress Software Corporation (NASDAQ: PRGS) is a global software company that simplifies the development, deployment and management of business applications on-premise or on any Cloud, on any platform and on any device with minimal IT complexity and low total cost of ownership.

Actional, DataXtend, Fuse, Progress, Savvion, Shadow and Sonic are trademarks or registered trademarks of Progress Software Corporation or one of its subsidiaries or affiliates in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners.

Related Downloads

Pentaho BI Suite Enterprise Edition

Pentaho BI Suite Enterprise Edition 4.1

Pentaho is building the future of business analytics. Pentaho's open source heritage drives our continued innovation in a modern, integrated, embeddable analytics platform that includes diverse and big data requirements. Pentaho Business...

Emanio Insight

Emanio Insight 2.1

Take control of your future and see just how simple predictive analytics can be.

- Analyze your own Excel data or attach to your enterprise system.
- Create predictive data profiles in minutes.
- Put the power of in-memory...

Resell Hot Products 1 

Resell Hot Products - Product #1 'Product Launch 1...2...3' Product #2 'The High Rollers Guide To Joint Ventures' Product #3 'Easy JV & Affiliate Manager' Product #4 'Adsense - The Dollar Producing Factory' Product #5 'Making Money With...

MarketSMS

MarketSMS 2.3

MarketSMS helps you by returning information from a database, depending on user inputs, using all types of connections (sms/mail/GSM modem/Fax/SMSC/Wap).
Great for big companies, or small markets to provide prices, orders details, product...

Affiliate Price Comparisons Plus Script 6.1

Bulk import products from any affiliate product data feed Comparisons Plus Script includes the powerful Magic Parser library (written by the same author) to enable importing of products from just about any affiliate product feed file format,...

InSight

InSight 4.0

There are many dimensions of product performance. Cost, reliability, and level of environmental compliance are a few examples. Manufacturers struggle to gain visibility into a product’s expected performance against each of these measures early...

Mod Cat - ATI Mobility Modder 1.2

ATI Mobility Modder is a software that will help you install various packages. The application is developed as being free. With this tool you can modify your mobility driver through different settings. For example you can change the mobility memory...

Mapping & GIS Product Comparison Desktop 2.2

So that you can identify the Mapping & GIS product that best suits your needs, use this simple Product Comparison. There are four main product types that you can use to create a GPS data collection and maintenance system, or mobile GIS solution....

GML Viewer

GML Viewer 4.0

GML Viewer is a new product created using the core framework of OS MasterMap Viewer and a subset of the generic parsing technology used in the flagship product GO Loader. With over 3500 downloads, the viewer has been extremely popular for users...

Lipper for Investment Management

Lipper for Investment Management 2.7

Designed to work seamlessly with your workflow, Lipper for Investment Management offers you the flexibility to manage data and information in a way that suits your needs.

Lipper for Investment Management features the content, analytics...