Progress Software Buys Savvion
Progress Software (NASDAQ: PRGS), the Bedford, MA-based maker of systems for integrating enterprise software applications, said this morning that it has acquired Santa Clara, CA-based Savvion for $49 million, net of Savvion’s cash. Savvion makes business process management software, and Progress president and CEO Richard Reidy said the acquisition “enhances our goal to provide unprecedented business visibility, responsiveness and business process improvement, coupled with the highest degree of data integrity and integration.” Progress hasn’t said how many of Savvion’s roughly 200 employees it expects to retain in the merger.
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