Tagged PRGS

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13D Filing or Marketing Piece? You Decide

  Purpose of Transaction. Item 4 of the Schedule 13D is supplemented and superseded, as the case may be, as follows: Since the filing of Praesidium’s Schedule 13D amendment on August 2, 2017, in which Praesidium stated that it had brought ideas around “internal initiatives” directly to the Issuer’s Board of Directors, the Issuer’s stock…

Progress Software “Sees The Light” & Makes Strategic U-Turn

ProgressSoftware Corporation announced today a new strategic plan designed to enhance growth, profitability and shareholder value. Under the plan, Progress will become a leading provider of a next-generation, context-aware application development and deployment platform in the Cloud for the Application Platform-as-a-Service (aPaaS) market by investing in its core OpenEdge, DataDirect Connect and Apama Analytics and Decisions…

Proforma Look at Progress Software

Progress management held a conference call today to provide some details on the announcement of divestitures, refocus of its business around ADP, share buyback and restructuring. There was a lot of talk about focusing on Cloud-based services which only 15% of its current custmers utilize. The Company will exit 10 product lines and expects to sell them…

Starboard Files Proxy Materials for Progress Software

 Starboard Value LP, one of the largest shareholders of Progress Software Corporation with current ownership of approximately 5.2% of the outstanding shares, today announced that it filed preliminary proxy materials with the SEC regarding the election of directors to the Progress Board at the 2012 Annual Meeting.  In its preliminary proxy, Starboard reiterated its belief that…

Starboard Disappointed PRGS Mgmt did not Extend Nomination Deadline

  January 30, 2012 Jay Bhatt President and CEO Progress Software Corp 14 Oak Park Bedford, MA 01730   cc:           Board of Directors   Dear Jay, We appreciate the continued dialogue between Progress Software Corporation (“Progress” or the “Company”) and Starboard Value LP (“Starboard”).  Starboard and its affiliates currently own 5.1% of Progress, making us one of…