- Progress Software ( NASDAQ: PRGS ) said Tuesday it will acquire document-oriented database operator MarkLogic for $355M.
- The deal will add MarkLogic's NoSQL database and semantic metadata management to Progress' ( PRGS ) portfolio.
- The acquisition is expected to add more than $100M in annual revenue and contribute strong cash flows.
- The deal is expected to close in early 2023.
- Progress ( PRGS ) expects ARR at Q4-end to be ~$497M, up of 3.5% Y/Y.
- The company also expects adj. revenue and adj. EPS to be within or above the high end of its guidance .
- Progress ( PRGS ) plans to release Q4 results on January 17.
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Progress Software to acquire database operator MarkLogic for $355M