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AI brief of an SEC Form 8-K · Progress Software (PRGS)

Progress Software completes $875 million acquisition of ShareFile from Cloud Software Group

Neutral Impact 4 of 5 m&a Written later

Progress Software closed its purchase of substantially all assets of ShareFile, a document-centric collaboration software unit of Cloud Software Group, on October 31, 2024. The purchase price was $875 million in cash, subject to a $25 million working capital credit, funded from cash on hand and an existing revolving credit facility. The company says ShareFile is expected to add more than $240 million in annual revenue and more than 86,000 customers.

Key points

  • Closing date: October 31, 2024, under an asset purchase agreement dated September 9, 2024
  • Purchase price: $875 million in cash, subject to a $25 million working capital credit
  • Funding: cash on hand and an existing revolving credit facility
  • Expected to add more than $240 million in annual revenue and more than 86,000 customers; Progress will file financial statements and pro forma information by amendment to this 8-K

The filing

CompanyProgress Software (PRGS)
Form8-K, current report
Filed with the SECOct 31, 2024, 4:23 PM ET
Accession number0001552781-24-000575

Items reported: 2.01 Acquisition or Disposition Completed7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:55 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 31, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.