Progress Enters Definitive Deal To Acquire ShareFile, A Business Unit Of Cloud Software Group, For $875M, Paid With Combination Of Cash And Existing Revolving Credit Facility
Portfolio Pulse from Benzinga Newsdesk
Progress has entered into a definitive agreement to acquire ShareFile, a business unit of Cloud Software Group, for $875 million. The acquisition will be financed through a combination of cash and an existing revolving credit facility.
September 09, 2024 | 10:09 am
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POSITIVE IMPACT
Progress is acquiring ShareFile for $875 million, funded by cash and existing credit. This acquisition could enhance Progress's product offerings and market position.
The acquisition of ShareFile by Progress is a significant strategic move that could enhance its product offerings and market position. The use of cash and existing credit indicates a strong financial strategy, potentially leading to positive investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100