Software // Enterprise Applications
03:40 PM
The Analytics Job and Salary Outlook for 2016
Jan 28, 2016
With data science and big data top-of-mind for all types of organizations, hiring analytics profes ...Read More>>

Progress Software To Buy Persistence

With real-time data management becoming more pervasive, Progress is strengthening its real-time data-services product line.

Expanding its line of real-time data-management software, Progress Software Corp. said Monday it will acquire Persistence Software Inc., a developer of distributed data-access and caching software, for approximately $16 million in cash.

The deal has been approved by the companies' boards and is subject to stockholder approval. The acquisition is expected to close within 90 days.

Progress plans to make Persistence and its product line part of its ObjectStore operating company, which markets real-time data-management software and services. The Persistence EdgeXtend distributed-data-caching software will replace Progress' current ObjectCache product, says Peter Sliwkowski, ObjectStore president.

Although some of Persistence's staff of 40 will likely be laid off in the acquisition, the company's core engineering, customer support, and executive-management teams are expected to join Progress, says Chris Keene, Persistence CEO. Persistence is based in San Mateo, Calif., while Progress is located in Bedford, Mass.

Progress expects the acquisition to add about $8 million to $9 million to its revenue in the first year.

Comment  | 
Print  | 
More Insights
Building A Mobile Business Mindset
Building A Mobile Business Mindset
Among 688 respondents, 46% have deployed mobile apps, with an additional 24% planning to in the next year. Soon all apps will look like mobile apps – and it's past time for those with no plans to get cracking.
Register for InformationWeek Newsletters
White Papers
Current Issue
How to Knock Down Barriers to Effective Risk Management
Risk management today is a hodgepodge of systems, siloed approaches, and poor data collection practices. That isn't how it should be.
Twitter Feed
InformationWeek Radio
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.