Progress Software Buys Savvion for $49 Million
Progress Software Corp. (Nasdaq: PRGS) has acquired Savvion, a Santa Clara, Calif.-based provider of business process management software. The deal was valued at approximately $49 million, net of cash acquired. Savvion had raised nearly $52 million in VC funding since 2000, from firms like H.I.G. Capital, Redwood Ventures, TransCosmos, Westaim Partners, Walden International and VantagePoint Venture Partners.
11 January 2010•5 mins read
