Progress Software says it has signed an agreement to see its Apama complex event processing solution to Software AG. The terms of the transaction, which is expected to be completed in the third quarter, were not disclosed.
Phil Pead, Progress president and CEO, says, “After careful consideration, we concluded that it is in Progress’ best interest to focus our business on providing cloud and mobile application development technologies through a single cohesive platform and to pursue the sale of the Apama solution. The Apama target market, deployment and sales model differ significantly from those of Progress’ application development platform and we feel this agreement protects our customers’ existing investments in the Apama solution.”
Dr. John Bates, Progress chief technology officer and co-founder of Apama, is expected to join Software AG to lead the Apama business unit. He adds, “Progress and Software AG are committed to ensuring a smooth transition for our Apama customers and employees around the world and will provide customers with uninterrupted support and continued platform development.”