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What is the product offering of Progress? Quickly went through the website.. not sure, but it sounds more like smoke and mirrors..
I agree with this sentiment. The acquirer seems to be one of this enterprise companies that nobody hears about.
What is the product offering of Progress? Quickly went through the website.. not sure, but it sounds more like smoke and mirrors..
Progress offers several products I've used. You can build apps on their framework (OpenEdge) that manages all of the services and data storage. They also sell component libraries for .NET development. WhatsUpGold is a network monitoring tool. Telerik Fiddler is an awesome thing they own that lets you inspect network traffic on a local machine by proxying everything.
What's a good alternative to Chef?
$200mm for a $70mm in revenue company seems very cheap, no?
What is the product offering of Progress? Quickly went through the website.. not sure, but it sounds more like smoke and mirrors..
Basically, they're a business apps technology provider, and have been around since 1981, providing app development tools for enterprise scale applications. Progress 4GL was a database-backed application environment, quite widely used (albeit quietly) by big businesses all over the globe to build apps, and has transformed into OpenEdge.
As the Web evolved, Progress seem to have embraced all of it, and - as you say - somehow seem to be using smoke and mirrors to describe what they do - but actually their tooling is pretty awesome. Write an app in OpenEdge, deploy it on any web server. They were doing big relational database stuff on cheaper hardware (PC's, minicomputers) in an era when "big database" meant investing heavily in "IBM" or "Relational Software" (now: Oracle) resources.
Its pretty neat to see them still around. I had a lot of fun with Progress 4GL back in the day, but haven't touched it since mysql/postgresdb was released ..
Earlier quoted context omitted.
Progress offers several products I've used. You can build apps on their framework (OpenEdge) that manages all of the services and data storage. They also sell component libraries for .NET development. WhatsUpGold is a network monitoring tool. Telerik Fiddler is an awesome thing they own that lets you inspect network traffic on a local machine by proxying everything.
Oh, they make WhatsUpGold? That actually gives me more confidence in them - it's been a simple but reliable monitoring tool that I've seen in enterprise use for many years.
Earlier quoted context omitted.
I agree with this sentiment. The acquirer seems to be one of this enterprise companies that nobody hears about.
If you work in more traditional Windows-based IT, you know Progress. But yeah, they're not startup-y, it's unsurprising if the Silicon Valley crowd isn't familiar.
$200mm for a $70mm in revenue company seems very cheap, no?
We don't know anything about the profitability or the growth. I can imagine that their growth is flat or even declining.
[0] https://investors.progress.com/news-releases/news-release-de...
$200mm for a $70mm in revenue company seems very cheap, no?
Depends on the growth rate. If it’s flat growth, it’s not cheap at all.
“100% growth in incremental recurring revenue” doesn’t say much if they are churning a lot of existing customers. (That they chose such a double-speak revenue number perhaps says a lot). My impression was that DevOps software like this is very hard to pull out once you’ve embedded it in the org.
Am I missing something?