Progress will acquire Kemp for $258 million in cash.
Progress has announced that it has entered into a definitive agreement to acquire privately held Kemp, the always-on application experience company that “helps enterprises deliver, optimise and secure applications and networks across any cloud or hybrid environment”.
The provider of products to develop, deploy and manage high-impact applications said that with this acquisition, it will extend its portfolio of market-leading products in DevOps, Application Development, Data Connectivity and Digital Experience, by adding Application Experience Management (AX).
“Now more than ever, businesses recognise that their applications must always be available and highly performant,” said Yogesh Gupta, CEO, Progress. “The Kemp products address this exact need and complement our portfolio of best-in-class products to develop, deploy and manage high-impact applications.”
According to the company’s statement, “Kemp Loadmaster and Flowmon Network Visibility products monitor application performance, and distribute and balance traffic and workloads across servers, in the cloud or on premise, ensuring high performance and availability”.
“The acquisition of Kemp also furthers our total growth strategy and will enable us to add scale and cash flow, creating significant shareholder value,” added Gupta.
Progress said it will acquire Kemp for $258 million in cash. The acquisition is expected to close in October 2021, subject to obtaining regulatory approvals and satisfaction of other customary closing conditions.