Welcome to our dedicated page for Progress Software (DE) news (Ticker: PRGS), a resource for investors and traders seeking the latest updates and insights on Progress Software (DE) stock.
Progress Software Corporation (Nasdaq: PRGS) is a global leader in providing software solutions that simplify the development, deployment, and management of business applications. Headquartered in Bedford, MA, the company offers a comprehensive suite of products designed to operate on-premise, in the cloud, on any platform, and on any device with minimal IT complexity and low total cost of ownership.
Progress' flagship product, OpenEdge, powers applications for over 400,000 end-user customers globally and more than 1,400 ISVs (Independent Software Vendors). The company also offers a variety of other robust products, including Chef, Developer Tools, Kemp LoadMaster, MOVEit, DataDirect, WhatsUp Gold, Sitefinity, Flowmon, and Corticon. These tools are designed to enhance application development, business continuity, data connectivity, network performance, and IT infrastructure management.
Progress derives revenue through perpetual licenses, term licensing models, and subscription-based models for its cloud-based offerings. The majority of its revenue comes from the United States, with significant additional revenue streams from Canada, EMEA (Europe, Middle East, and Africa), Latin America, and the Asia Pacific region.
Recent Achievements and Partnerships:
- In March 2024, Progress announced a strategic partnership with Veeam® Software to provide enterprise-ready cybersecurity solutions, combining Progress' Flowmon® Anomaly Detection System (ADS) with Veeam’s Data Protection and Ransomware Recovery capabilities.
- Flowmon ADS was recognized as a Technology Leader in the 2023 SPARK Matrix™: Network Detection and Response (NDR) report and won gold in the 2023 Globee® Cybersecurity Awards.
- In May 2024, Progress released the latest versions of Progress® Telerik® and Progress® Kendo UI®, enhancing AI integration, design-to-code productivity, and accessibility features across its .NET and JavaScript UI libraries.
Progress' continued innovation and strategic alliances underline its commitment to providing top-tier solutions that address modern IT challenges. Over 4 million developers and technologists across hundreds of thousands of enterprises depend on Progress to enhance their technology landscapes and drive business success.
Progress (Nasdaq: PRGS) has launched over 35 new DataDirect connectors that provide real-time access to various data sources including Foursquare, Google Calendar, and Twitter. These connectors help organizations bridge data gaps for improved analytics-driven decision-making. The integration of disparate data sources is crucial for businesses looking to enhance customer understanding and operational insights in a digital-first environment. Progress aims to empower enterprises to leverage unique data types to drive revenue and customer success effectively.
Progress (Nasdaq: PRGS) has launched the latest version of WhatsUp Gold 2022, enhancing IT infrastructure monitoring through integration with Flowmon. This update, following Progress’ acquisition of Kemp, provides organizations with comprehensive network traffic performance monitoring and diagnostics. The release aims to simplify management of hybrid environments and improve issue resolution times, thereby minimizing business impact from service disruptions. Enhanced security features include anomaly detection capabilities to combat threats. WhatsUp Gold is recognized as a leader in network monitoring solutions.
Progress (Nasdaq: PRGS) is set to release its financial results for Q1 fiscal year 2022 on March 29, 2022, after market close. This fiscal quarter ended on February 28, 2022. Investors are invited to join a conference call at 5:00 p.m. ET the same day to discuss the results. The investor relations webpage will host an archive of the call and related materials post-event. Progress continues to support over 1,700 software companies and 3.5 million developers, driving innovation and application management.
Progress (Nasdaq: PRGS) announced the release of Sitefinity DX 14.1, enhancing digital experience platform capabilities to enable organizations to create multichannel experiences using .NET 6. Key features include a new .NET 6 package for scalable applications, digital asset management integrations, advanced AI-driven search functionalities, and sophisticated audience segmentation tools. This update comes as organizations face challenges with current DXP solutions, citing a need for adaptability and integration to succeed in digital transformation.”
Progress (Nasdaq: PRGS) has expanded its partnership with Ingram Micro to enhance its application experience products across Sweden, Finland, Denmark, and Norway. This collaboration aims to increase the access of channel partners and resellers to Progress® MOVEit® file transfer and Progress® WhatsUp® Gold network monitoring software. The partnership responds to the growing need for secure and efficient management of business operations amidst rising cyber threats, enabling businesses to improve security and infrastructure visibility.
Progress (Nasdaq: PRGS) announced that Bechtle IT System House Bonn/Cologne is utilizing its WhatsUp Gold software to enhance network monitoring and device detection. This integration allows Bechtle to reduce operational risks and improve client satisfaction by automatically identifying unmonitored devices. With the rise of hybrid work and increased cloud usage, effective infrastructure visibility is now crucial for IT operations teams. WhatsUp Gold's REST API facilitates continuous discovery of new endpoints, ensuring robust network security and performance.
Progress (NASDAQ: PRGS) announced the inaugural recipient of the Progress Software Akanksha Scholarship for Women in STEM, aimed at supporting female students in India pursuing degrees in technology-related fields. The scholarship covers tuition and educational expenses for four years. The first awardee, Akhila Karanam, is a second-year student at Keshav Memorial Institute of Technology, chosen for her academic excellence and personal attributes. Additionally, applications are open for the Mary Székely Scholarship for women in the U.S., honoring Progress's co-founder.
Progress (NASDAQ: PRGS) announced an amended secured credit facility totaling $575 million, encompassing a $275 million senior secured term loan and a $300 million revolving line of credit. This facility can be expanded by an additional $260 million, contingent on specific leverage ratio tests. The facility replaces the prior agreement from April 2019 and matures on January 25, 2027. CFO Anthony Folger emphasized the benefits of lower costs and increased liquidity, positioning the company for future growth.
Progress (NASDAQ: PRGS) announced the R1 2022 release of Progress® Telerik® and Progress® Kendo UI®, introducing over 50 new components and day-one support for .NET 6, Visual Studio 2022, and Angular 13. Key enhancements include new UI components for Blazor and ASP.NET Core, expanding collaboration tools for developers and designers, and support across the entire Telerik product suite. The release solidifies Progress's position in the developer tools market by offering the largest native UI component libraries for multiple frameworks, aimed at improving developer productivity.
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