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DataDirect Technologies Swept Up By Progress
Progress Software Corporation (Nasdaq: PRGS), supplier of business apps management and integration tools, will acquire most of the assets of DataDirect Technologies for about $88 million in cash. Data Direct vends data access components for software developers.
DataDirect says their technology is embedded in the products of over 250 top software companies and in the applications of many Fortune 100 firms. The company’s drivers aim to simplify application development and support by facilitating data access across multiple platforms and databases, including Oracle, IBM DB2, Microsoft SQL-Server, Sybase, and Progress.
Progress picked up Data Direct, a portfolio company of VC Golden Gate Capital, to enhance its toolset of application development tools and data management software. A Progress officer recently claimed that his company is enjoying “triple-digit license growth” in contrast to “old EAI players like Tibco, Web Methods, and Vitria.”
Progress -- with a current market cap of about $750 million -- has been acquisitive, having purchased XML and data management firm eXcelon Software in December of 2002.
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