Progress Software Buys Telerik for $262.5 Million

Looking to kickstart growth and modernize its technology offerings, Progress Software announced Wednesday that it is acquiring Bulgarian application development tool maker Telerik for $262.5 million.

Telerik, which claims to support 130,000 clients, builds software tools to help develop cloud, Web, mobile and desktop applications. The company said its platform EUcombines industry-leading UI tools with cloud services to simplify the entire app development lifecycle.EU Telerik has about 750 employees globally.

Progress said it hopes the acquisition will help it create a comprehensive platform for both cloud and on-premise deployment. EUThe combined offering will enable developers to create highly personalized user experiences, powerful applications and connections to multiple data sources without being limited by cloud or device,EU the company said.

Buying Growth

The acquisition follows ProgressEU June purchase of Modulus, a platform-as-a-service (PaaS) company specializing in scalable, cloud-hosted business and consumer applications. One year earlier, the company bought another PaaS company, Rollbase, to provide its independent software vendor clients with a drag-and-drop user interface.

With the Telerik acquisition, Bedford, Mass.-based Progress gets its hands on Sitefinity, a content management system for creating and managing mobile enterprise applications, a cloud-based mobile development platform, a suite of user-interface development tools and application life cycle management, and a .Net toolbox.

Perhaps more importantly, it also gains access to TelerikEUs its community of 1.4 million developers, including developers working in ABL, .NET, Java, JavaScript, Node.js and mobile environments. Moreover, Telerik is predicting annual sales growth of more than 20 percent.

"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. Pead cited the complexity inherent in developing modern applications, including the need to deal with security, scaling, massive amounts of data and the ability to deploy on a large number of different devices,...

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