Progress to acquire ShareFile, bringing AI-powered, document-centric collaboration to its product portfolio

Progress, the trusted provider of AI-powered infrastructure software, is announcing that it has entered a definitive agreement to acquire ShareFile, a business unit of Cloud Software Group, Inc., that provides SaaS-native, AI-powered, document-centric collaboration. These capabilities, once the transaction closes, will join Progress’ suite of product offerings.

Progress’ products help enterprises develop, deploy, and manage responsible AI-powered applications and experiences with ease, according to the company. ShareFile’s secure document workflow solutions designed to fit the needs of any organization will join Progress’ offered capabilities, helping the company deliver AI-powered, document-centric collaboration, workflows, client portal, secure file sync and share, and eSignature functions. 

“Businesses today need to enhance their effectiveness in serving customers, while continuously streamlining their operations to drive efficiency, security, and compliance," said Yogesh Gupta, CEO of Progress. "ShareFile fits strategically with Progress’ Digital Experience portfolio to enable organizations to deliver more effective client and team collaboration while simplifying the secure sharing of documents and other content. ShareFile customers will benefit from Progress’ strong customer focus, expansive product portfolio, and expertise as well as an unparalleled track record of customer success.”

The proposed acquisition of ShareFile reflects Progress’ Total Growth Strategy, aimed at acquiring strong businesses whose solutions complement Progress’ existing software portfolio, according to the company. This acquisition is projected to add more than $240 million in annual revenue for Progress, as well as include more than 86,000 customers.

“ShareFile has a long track record of success within the secure content collaboration and client interaction space and with this transaction, as part of Progress, will be better positioned to continue that record, long into the future,” said Thomas Krause, CEO of Cloud Software Group.?“For ShareFile customers, we firmly believe they will benefit from Progress’ deep customer commitment, extensive product portfolio, expertise, and its expansive user community.”

To learn more about this acquisition, please visit https://www.progress.com/ or https://www.sharefile.com/.