Progress Software is a publicly-held company founded in 1981 by a group of MIT graduates. The company’s headquarters is based in Massachusetts, US. It has offices in 16 countries and currently has over 1,500 employees. Progress Software is a company in the computer software sector and develops, and sells the same to companies who want to deploy business applications. Josep W. Alsop was one of the MIT graduates who have significant contributions in co-founding Progress Software. The present CEO and President of the company are Yogesh Gupta while Paul Jalbert is the CFO of the company.
About Progress Software
Apart from Josep Alsop, two other important founding members of the company are Charles Clyde and Zierring Kessel. Progress Software is a renowned global supplier of software products for information services organizations not only in the industrial sector but also in government bodies. The company also supplies software tools and add-on components to the companies who are building business applications with Microsoft Corporations’ Visual Basic application development environment. Progress has around 20 subsidiaries helping it to maintain a market for selling products in 60 countries in Europe, Asia, Latin America, and Australia.
Early Days
When the company was incorporated back in 1981, its original name was Data Language Corporation. The company was officially launched after the founders successfully developed its first product, the PROGRESS Application Development Environment (ADE). This environment was designed so that it can be used for the development and deployment of software applications that were scalable, portable, and reconfigurable. In 1984, the company released the first commercial version of the PROGRESS ADE for Unix followed by another version for MS-DOS. 1985 marked the first profitable year of the company and after a few years, the company released the software for computer networks and CTOS/BTOS operating systems.
By the end of the 1980s, the growth of the company was remarkable and is ranked 38th in the Inc magazine’s list of the 500 fastest-growing private American companies. When the company entered a new decade, its main focus was on value-added resellers who used PROGRESS software to build their commercial software products. These middlemen required deployment licenses from the company which significantly increased the revenue of Progress Software. In 1995, Progress was featured in Forbes’s 200 Best Companies in America list and the next year the company attempted to climb the ladder in the internet market.
As the company’s sales rose, it eventually came into the radar of big companies like Oracle, Sybase, and Informix. Big companies like these became the major competition of Progress. One of the biggest advantages of Progress was that its RDBMS could work on most types of computer hardware. With the changing of the market scenarios, the company is expected to benefit from two business trends, the growth of corporate networks and the decentralization of large conglomerates.
Present Status
Stepping into the 21st century, Progress Software acquired a handful of companies starting with eXcelon Corporation in 2002 for $24 million (approximately). Some of the products developed by the company (XML IDE and Stylus Studio) are now marketed by Progress. In 2003, the company acquired DataDirect Technologies followed by Persistent Software in 2004 and Apama in 2005. In 2006, the company acquired Actional Corporation which previously merged with WestBridge Technologies (an XML security company). The acquisitions expanded the customer base of Progress Software as well as product ranges. Although in 2012 the company announced that it will refocus its strategies and concentrate on a narrower product type. So, it decided to either sell or decommission most of its products. It recently acquired Chef Software Inc and Kemp Technologies.
Yogesh Gupta – CEO of Progress Software
Yogesh Gupta has been serving as the CEO and President of Progress Software since October 2016. He is responsible for improving customer relationships and launching new products in these few years. Before joining Progress, he was the CEO and President of Kaseya Inc, and before that FatWire Software and Oracle Corporation.
Annasha Dey is an NIT student, who apart from studying engineering is also a content writer. She has a great interest in photography, writing, reading novels, and travelling as well. She is a foodie who loves socializing and hanging out with her friends. She is also a trained Kathak dancer and a big fashion enthusiast. Dey also loves watching TV series, which includes F.R.I.E.N.D.S. and Big Bang Theory. To be a better writer she prefers to read more