Progress to acquire PE-backed data platform MarkLogic for $355m

The deal is expected to close in early 2023.

  • MarkLogic is a portfolio company of Vector Capital
  • Progress is a provider of application development and infrastructure software
  • Jefferies LLC served as financial advisor to MarkLogic

Progress has agreed to acquire MarkLogic, a data platform for $355 million. The deal is expected to close in early 2023.

MarkLogic is a portfolio company of Vector Capital.

Progress is a provider of application development and infrastructure software.

“The key to the success of any business is its ability to tackle complex data challenges “I’m extremely proud of what our team at MarkLogic has been able to accomplish since the Vector Capital acquisition—from major product releases and customer wins, to the acquisition of Smartogic,” said Jeffrey Casale, CEO of MarkLogic in a statement. “As part of a larger, well-established organization, I’m confident that our team will thrive with new opportunities for professional development and innovation, and our customers will gain access to an expansive product portfolio that will enhance their digital experiences and elevate their infrastructure management capabilities.”

Jefferies LLC served as financial advisor to MarkLogic on this transaction while Paul Hastings LLP was legal counsel. DLA Piper LLP (US) served as Progress’ legal counsel.

Vector Capital invests in technology and technology-enabled businesses. Founded in 1997, Vector oversees approximately $4 billion of capital across its private equity and credit strategies.