Progress Software to acquire semantic data platform MarkLogic for $355m

Progress Software Corporation, a Nasdaq-listed application development and infrastructure software provider, has agreed to acquire semantic data platform MarkLogic, a Vector Capital portfolio company, for $355 million.

With the proposed acquisition, Progress Software anticipates adding NoSQL database and semantic metadata management to its product portfolio and form a unified enterprise-grade semantic data platform.

Yogesh Gupta — Progress Software CEO, commenting on Progress Software acquisition of MarkLogic, said: “The key to the success of any business is its ability to tackle complex data challenges through informed decision making.

“To do this effectively, users must turn data into actionable insights—and that is what MarkLogic delivers.

“Progress’ digital experience and infrastructure software products along with MarkLogic products will create an unmatched platform, giving customers access to an increasingly more complete offering to drive business success.”

MarkLogic offers multi-model NoSQL database, with semantic metadata management and artificial intelligence (AI) capabilities.

The semantic data platform enables enterprises to connect data and metadata, create and interpret meaning, and consume contextualized data across the business.

Post-closing, Progress Software anticipates adding an annual revenue of over $100 million.

Commenting on Progress Software acquisition of MarkLogic, Jeffrey Casale — MarkLogic CEO, said: “As part of a larger, well-established organization, I’m confident that our team will thrive with new opportunities for professional development and innovation, and our customers will gain access to an expansive product portfolio that will enhance their digital experiences and elevate their infrastructure management capabilities.”

Anticipated to complete in early 2023, Progress Software acquisition of MarkLogic is subject to regulatory approvals and other customary closing conditions.