About Progress Software Corporation

Progress Software can help you make significant headway when managing and deploying business applications. The company's platform-as-a-service PaaS) software is used for tasks such as business process management, application integration, data management and analysis, and application development and deployment. Progress' products encompass desktops, servers, mainframes, and data centers, and can be implemented in a variety of computing environments such as Linux, Unix, and Windows. Progress serves about 140,000 organizations in more than 180 countries, with clients coming from industries such as financial services, health care, manufacturing, and technology.

Operations

Progress divided its operations into three distinct business units in 2014. The OpenEdge unit, which provides product improvements and marketing support, accounts for 90% of Progress’ revenue. Data Connectivity and Integration, which provides data integration services, is about 10%. The other unit, Application Development and Deployment had negligible revenue, though the company expects it to change. The unit focus on developing new customers for the company’s application development efforts.

Geographic

Reach Progress Software maintains US offices in California, Illinois, Massachusetts, and North Carolina. International offices are located in Australia, Austria, Belgium, Brazil, Canada, China, Denmark, Finland, France, Germany, Hong Kong, India, Ireland, Italy, Japan, the Netherlands, Norway, Poland, Singapore, Spain, Sweden, Switzerland, and the UK. The company added a development operation in Bulgaria through an acquisition. North America and Europe each account for about 40% of its total revenue.

Sales and Marketing

The company uses both a direct sales force and a network of independent distributors in another 45 countries where it doesn't have a sales office. It markets its products directly to end users and indirectly to ISVs, OEMs, and system integrators that embed Progress products into their own. Direct sales customers are typically business managers or IT managers in corporations and government agencies. About half of its sales come from indirect channels. Customers include Sungard, eBay, Unisys, and the Arkansas Department of Education.

Financial Performance

The company’s financial performance has appeared spotty as it has dealt with the divestiture of several product lines. In 2014, Progress’ revenue notched down 0.44% to $332.53 million on lower licensing revenue. Software license revenue decreased due to constant exchange rates in the current year and decline revenue in the North America, EMEA, and Latin America regions, mainly as a result of lower revenues related to their DataDirect product, primarily to direct end users. Professional service revenue rose with the BravePoint acquisition. The company’s net income decreased 34% to about $50 million in 2014 from 2013 because of higher provision for income tax and absence of income from discontinued operation.

Strategy

Following the divestitures, Progress Software rebranded itself and launched a platform-as-a-service (PaaS) program that enables business applications to be created by anyone using a web browser. In 2014, it began to build itself back up with acquisition of companies that enable it to offer application development services.

Following the release of its Progress Pacific platform in 2013, the company issued updates to key application development products, the Telerik Platform and Modulus.

Mergers and Acquisitions

In 2014, Progress bought Modulus LLC (Modulus), a platform-as-a-service provider using the Node.js and MongoDB technologies. With Modulus Node.js and MongoDB on board, Progress expects to offer speedy development of scalable, connected business and consumer applications. Also in 2014, Progress bolstered its professional services capabilities with the acquisition of BravePoint, a consulting, training, and application development company. With its purchase of Telerik, Progress can provide comprehensive cloud and on-premise platform services for rapid application development.

- Show Less + Show Full Description

Company News and Press Releases

- Show Less + Show More News and Press Releases

Progress Software Corporation

14 Oak Park Dr
Bedford, MA 01730-1485
Phone: 1 (781) 280-4000
Fax: 1 (781) 280-4095
www.progress.com

Stats

  • Employer Type: Public
  • Stock Symbol: PRGS
  • Stock Exchange: NASDAQ
  • President and CEO: Philip M. Pead
  • President and CEO: Philip M. Pead
  • SVP Finance & Administration, and CFO: Chris E. Perkins

Major Office Locations

  • Bedford, MA

Career Update Newsletter

Tips and tools to help you manage your ideal career.