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) announced that CEO Yogesh Gupta has been appointed Co-Chair of the MassTLC Board of Trustees for a two-year term. Gupta is recognized for his role in the Executive Diversity and Inclusion Steering Committee and the Tech Compact for Social Justice, which aims to enhance diversity in Massachusetts' tech sector. Over 90 organizations have joined this initiative, making over 420 commitments to promote inclusion. Gupta emphasized his commitment to innovation and diversity within the tech community as he takes on this leadership role.
Progress (NASDAQ: PRGS) announced the R3 2020 release of Test Studio, enhancing its .NET test automation platform. Key features include a redesigned Test Recorder UI that improves user experience and new support for Telerik UI for Blazor components. The updates aim to streamline software delivery for enterprises amidst modern agile and DevOps practices. The enhanced coding capabilities facilitate the combination of codeless tests with coded steps, promoting efficiency in automated testing workflows.
Progress (NASDAQ: PRGS) is hosting two webinars in November to help developers utilize the newly released .NET 5 platform. The first, 'The Future of Desktop Webinar', is on Nov. 5, focusing on desktop application development. The second, 'The State of .NET Webinar', takes place on Nov. 19, addressing new tooling and performance insights for .NET 5. Progress has been proactive in supporting .NET advancements, already integrating .NET 5 into its development tools, including Telerik UI for various platforms, enhancing developer productivity and application efficiency.
Progress (NASDAQ: PRGS) announced new innovations to enhance the adoption of its Chef DevSecOps portfolio for application development. Key updates include Chef Infrastructure Management, which improves secure infrastructure management and reduces upgrade times; Chef App Delivery, enabling 90% faster application deployment; and compliance enhancements for cloud resource scanning. Additionally, the new 'Learn Chef' skills validation program aims to expedite user training and skill acquisition. These initiatives support broader enterprise adoption and accelerate Progress’ growth in the DevSecOps market.
Progress (NASDAQ: PRGS) has announced that the Danville Area School District (DASD) in Pennsylvania implemented WhatsUp Gold for effective network monitoring amid the challenges of remote learning. The software supports 2,500 users and tracks 600GB of daily network traffic. Key benefits include easy implementation, comprehensive network visibility, and the ability to proactively manage devices. The IT team reports enhanced confidence in handling increased network demands as DASD transitions to a hybrid learning model.
On October 20, 2020, Progress (NASDAQ: PRGS) announced the launch of new DataDirect connectors aimed at bridging data gaps for marketing effectiveness. These connectors facilitate access to data across popular platforms like Google Analytics, HubSpot, Microsoft Dynamics 365, and Oracle Eloqua, enabling near real-time insights into campaign performance. Designed to ease the burden on IT and marketing teams, they reduce the time spent on data discovery and custom coding, thus enhancing productivity and decision-making capabilities.
Progress announced a significant upgrade to its OpenEdge development platform, improving data throughput speed by 3x and enhancing security and scalability. This upgrade, utilized by Constellation Financial Software, transitions their Lease & Loan Portfolio Management solution from Win32 to a web-based application, meeting the demand for fast and secure services in the financial sector. The new features include multi-threaded database capabilities and robust security with OpenSSL and Spring Security, ensuring the application can handle increased loads efficiently.
Progress (NASDAQ: PRGS) announces its DevReach conference, expecting over 1,600 software professionals to attend. The event will be held virtually from October 19-23 and streamed live on Twitch. Registration is free. Attendees will engage in live coding with industry experts, recognize community contributions, and participate in exclusive VR social events. Director of Developer Relations, Sara Faatz, emphasizes the importance of community connection during this virtual format. The conference aims to foster interaction and share the latest development trends.
Progress (NASDAQ: PRGS) has successfully acquired Chef Software for $220 million in cash, enhancing its position in the DevOps and DevSecOps markets. This acquisition aims to bolster Progress's offerings in application automation and compliance across multi-cloud and hybrid environments. CEO Yogesh Gupta expressed confidence that Chef will contribute positively to their growth strategy, starting from Q1 FY2021, with expected accretive effects on earnings per share and cash flow. The acquisition follows Progress's previous purchase of Ipswitch in 2019.
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