SEG Sector Deals: Progress Software Acquired DataRPM

Progress Software, provider of application development, deployment and management technologies, acquired DataRPM Corporation for $30 million. DataRPM Corporation develops and provides a cognitive data science platform that automates machine learning (IoT) for enterprises. The acquisition will enable Progress Software to use predictive analytics capabilities to build out their Cognitive Apps platform, allowing businesses to develop smarter applications.

Seller Business Description:

DataRPM Corporation develops and provides a cognitive data science platform that automates machine learning on-cloud or on-premise for enterprises. See Press Release.

Buyer Business Description:

Progress Software Corporation provides software solutions for various industries worldwide.