Today, we are pleased to announce we’ve entered into a definitive agreement to acquire MarkLogic, a leader in complex data and metadata management. With this deal, Progress strengthens our already strong position in application platforms and data connectivity by adding a NoSQL database and semantic metadata to our portfolio.
The acquisition is expected to close in early 2023, subject to obtaining regulatory approvals and satisfaction of other customary closing conditions.
Founded in 2001 and headquartered in Redwood City, California, MarkLogic provides a unified enterprise-grade semantic data platform delivering a faster, trusted way to derive value from complex data. It offers a best-in-class, proprietary, multi-model NoSQL database, along with robust semantic metadata management capabilities. This gives customers the ability to derive value from any data, from any application, in any architecture, in any workflow.
Adding MarkLogic also expands Progress beyond structured, SQL data with a powerful NoSQL database, informed search and semantic AI. This elevates data agility and data insights and will provide the necessary functionality for our large enterprise customers seeking to natively manipulate, store and manage non-relational data, such as graphs, triples and other unstructured data.
When the deal closes, MarkLogic products will become part of the Progress Application and Data Platform business unit, led by Executive Vice President, General Manager, John Ainsworth. MarkLogic will complement our proven data connectivity leader, Progress DataDirect, which currently offers cloud and on-premises data connectivity solutions across relational, NoSQL, Big Data and SaaS data sources.
According to Gartner, “By 2025, 90% of new data and analytics deployments will be through an established data ecosystem, causing consolidation across the data and analytics market. Through 2024, organizations that adopt aggressive metadata analysis across their complete data management environment will decrease time to delivery of new data assets to users by as much as 70%.”
Forrester called MarkLogic a “long-standing leader of multimodel data platforms, offering support for various data models including XML, JSON, text, geospatial, and RDF.” What’s more, MarkLogic is recognized in the Magic Quadrant for Cloud Database Management Systems for its ability to address data integration, metadata handling, operational and analytic capabilities.
Bringing these rich capabilities to Progress enhances our ability to support customers throughout the “connect, create, and consume” data lifecycle. It also adds both customer value and over $100 million in new revenue to our company in support of our Total Growth Strategy.
We have embarked on an acquisition-driven Total Growth Strategy in which we intend to acquire infrastructure software businesses with complementary products, recurring revenue and loyal customer bases, all the while retaining a high level of discipline. Ultimately, we are seeking to double the size of our company in five years, providing tremendous opportunities for employees, customers, partners and shareholders alike.
Since embarking on this strategy, we’ve added over $200 million to our topline. When this deal closes, that figure will be north of $300 million, keeping us on pace to execute on this strategy.
We can’t wait to close the deal and welcome MarkLogic people to the Progress family. We see an outstanding future peeking over the near horizon.
A technologist at heart, Progress Chief Executive Officer Yogesh Gupta is passionate about how technology can make life simpler—both in the workplace and at home. He brings an infectious energy to work each day, defining company strategy and direction, gaining alignment and ensuring each team has what it needs to execute. His goal is for Progress to be a powerful voice in fueling marketplace transformation.
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