Progress Software Corp (DE) - PRGS STOCK NEWS

Progress (Nasdaq: PRGS) has announced the speaker lineup for the MarkLogic World Tour US 2024, scheduled for September 23-25 in Maryland. The event will bring together industry leaders to discuss the future of data, generative AI, and knowledge management. With nearly 20 sessions, workshops, and roundtables, attendees will explore topics such as the business value of GenAI, data visualization, and semantic knowledge modeling.

Speakers include executives and experts from companies like DuPont, Salesforce, Yale University, and Progress itself. The event aims to address real-world data challenges and showcase how organizations are creating value from data. Progress's MarkLogic platform, which combines multi-model data management with search and semantic capabilities, will be highlighted as a foundation for enterprise GenAI solutions.

Progress Software (Nasdaq: PRGS) has announced the release of its fiscal third quarter 2024 financial results on September 24, 2024, after market close. The company's Q3 FY2024 ended on August 31, 2024. Progress will host a conference call at 5:00 p.m. ET on the same day to discuss the results.

Investors can access a live webcast of the conference call, which will be listen-only. A replay will be available shortly after the call concludes. For those wishing to join by phone, dial-in details can be retrieved through a provided link. Participants are encouraged to dial in 15 minutes before the scheduled start time to avoid delays. An archived version of the call and supporting materials will be available on the Progress Investor Relations webpage after the live event.

Progress (Nasdaq: PRGS) has announced a definitive agreement to acquire ShareFile, a business unit of Cloud Software Group, Inc. ShareFile provides SaaS-native, AI-powered, document-centric collaboration solutions for various industries. The acquisition, valued at $875 million, is expected to add over $240 million in annual revenue and more than 86,000 customers to Progress. This move aligns with Progress' Total Growth Strategy, enhancing its Digital Experience portfolio.

Key points:

• Acquisition price: $875 million
• Expected annual revenue addition: $240+ million
• New customers: 86,000+
• Dividend suspension planned upon closing
• Expected closing: within Progress' fiscal year (ending November 30, 2024)

Progress (Nasdaq: PRGS) has announced the early-access release of MarkLogic Server 12, featuring powerful new generative AI capabilities. This update significantly enhances the platform's ability to integrate AI into enterprise applications, offering:

1. Native vector support for improved similarity searches
2. BM25 relevance ranking for better document ranking
3. Graph shortest path functionality for optimized recommendation systems

The release also introduces MarkLogic Flux, a new application for enhanced data movement and transformation. These improvements aim to double the accuracy of AI responses while simplifying the development of secure, AI-enhanced applications. The MarkLogic platform now provides a more flexible Retrieval Augmented Generation (RAG) pattern, allowing enterprises to ground LLM models in their private data for fact-based query responses.

Progress Semaphore, a metadata management and semantic AI platform, has been named the Leader and Gold Medalist in Info-Tech Research Group's 2024 Metadata Management Data Quadrant for the fourth consecutive year. The platform achieved an impressive 8.4/10 composite satisfaction score on SoftwareReviews, ranking first across all vendor capability categories.

Key highlights include:

• Business Value Created: 92%
• Breadth of Features: 91%
• Quality of Features: 89%
• Usability and Intuitiveness: 90%
• Vendor Support: 92%

Users praised Semaphore for its power, scalability, and robust integration capabilities. The platform enables organizations to manage knowledge models, extract and classify data, and generate rich semantic metadata, helping businesses act faster with data-driven wisdom.

Progress (Nasdaq: PRGS) has announced the release of Semaphore 5.10, an enhanced version of its metadata management and semantic AI platform. The update introduces AI-assisted knowledge modeling, extended mapping capabilities, and classification filtering to improve user productivity and simplify knowledge management.

Key features include:

• AI Model Builder: An AI-powered tool using large language models to accelerate the creation of semantic knowledge models
• Filtering of Classification Results by Publish Set: Allows sharing of Classification Server instances across project groups
• Mapping Relations Within the Current Model: Enables capturing similarities between models and forming mapping relationships
• Easy Import and Export of Shapes Constraint Language (SHACL): Streamlines processes and enhances data quality

Semaphore 5.10 aims to address the challenge of managing complex, unstructured data in today's data-driven business landscape.

Progress (Nasdaq: PRGS) announced that its Sitefinity Insight customer data platform (CDP) has been certified as a RealCDP™ by the Customer Data Platform Institute. This certification recognizes Sitefinity Insight's strong capabilities in managing and utilizing customer data effectively, particularly for CMS and web-based applications.

Key highlights include:

• Sitefinity Insight combines an intuitive user interface with essential CDP capabilities
• It offers AI-driven content optimization and campaign performance analysis
• The platform enables marketers to deliver personalized content and achieve desired business outcomes
• RealCDP certification validates Progress's commitment to providing a robust and reliable data management solution

This recognition underscores the growing importance of CDPs in delivering personalized customer experiences, effective data management, and compliance with data privacy regulations.

Progress (Nasdaq: PRGS) has announced the conclusion of the Securities and Exchange Commission's (SEC) investigation into the MOVEit vulnerability. The SEC's Division of Enforcement has informed Progress that it does not intend to recommend an enforcement action against the company at this time. This development follows a subpoena received by Progress on October 2, 2023, as part of a fact-finding inquiry related to the MOVEit vulnerability.

The conclusion of this investigation without enforcement action is a positive outcome for Progress, potentially alleviating concerns about regulatory risks associated with the MOVEit incident. This news may have implications for investor confidence and the company's reputation in the AI-powered infrastructure software market.

Progress (Nasdaq: PRGS) has launched Progress® Chef® Courier™, a new product designed to streamline and automate job orchestration across enterprise software infrastructure. Built on the cloud-native Progress® Chef 360™ platform, Chef Courier enhances Progress' Infrastructure Management portfolio. The product aims to improve efficiency, speed, and trust in complex IT environments.

Key features of Chef Courier include:

• Customized node lists for systematic job orchestration
• Reduced troubleshooting time at scale
• Consolidation of tools to reduce skillset requirements
• Vendor-agnostic approach
• Support for open-source community
• SaaS and marketplace options

The launch aligns with Gartner's view on the evolving importance of Infrastructure Automation & Orchestration in supporting rapidly changing business and technology landscapes.