- 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.
Source: Seeking Alpha