Progress Software Corporation

Progress Software Corporation provides software products that enable customers to develop, deploy, and manage AI-powered applications and digital experiences. The company operates in North America, Latin America, Europe, the Middle East and Africa (EMEA), and Asia and Australia (Asia Pacific) through local subsidiaries and independent distributors. A core strategy involves building and maintaining leading products and tools for modern business applications, offered to new and existing customers and partners. The company focuses on customer and partner retention, aiming for predictable recurring revenue and high profitability. Progress Software pursues a growth strategy through accretive acquisitions. Notable acquisitions include Ipswitch in April 2019, Chef Software in October 2020, Kemp Technologies in November 2021, MarkLogic in February 2023, ShareFile in October 2024, and Nuclia in June 2025. The company's capital allocation policy emphasizes accretive mergers and acquisitions and utilizes share repurchases to return capital to stockholders, intending to offset dilution from equity plans. The company's product portfolio has expanded due to its growth strategy. A key product is Progress Agentic RAG, a next-generation Agentic Rag-as-a-Service platform providing fast, flexible, and modular retrieval functionality to artificial intelligence (AI) agents from various unstructured data formats.