Progress Software to use credit facility to fund acquisition of Chef

By Taylor Fox

New York, Sept. 8 – Progress Software Corp. will use funds secured under its existing credit facility in addition to cash on hand to fund its acquisition of Chef.

Progress will acquire Chef for $220 million in cash, according to a news release.

The transaction is expected to close in October.

Progress is a Bedford, Mass.-based provider of application development and digital experience technologies.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.