WilmerHale Advises Progress in $225 Million Acquisition of Ipswitch
- 3.28.2019
Progress (NASDAQ: PRGS), the leading provider of application development and digital experience technologies, announced today that it has entered into a definitive agreement to acquire privately held Ipswitch, Inc., a leading producer of award-winning and easy-to-use secure data file transfer and network management software, for $225 million in cash. Progress will fund the transaction with existing cash on hand and funds secured under a new credit facility. The transaction is expected to be immediately accretive to both non-GAAP earnings per share and cash flow.
The WilmerHale team representing Progress was led by Hal Leibowitz and Andrew Bonnes and included Peter Dichiara, Reed Freeman, Jeff Johnson, Scott Kilgore, Julie Hogan Rodgers, Nicole Ewart, Meghan Walsh, Alex Dzioba, Ryan Crane and Lauren Ige.
