Progress intends to buy software development technology producer Chef for $220m in cash, following $105m in funding from backers including HPE and Citi.
Chef, a US-based software development technology provider backed by corporates Hewlett Packard Enterprise (HPE) and Citi, agreed yesterday to a $220m acquisition by software development tool producer Progress.
Progress will pay the full sum in cash and the deal is expected to close next month. It follows $105m in equity funding for Chef.
Founded in 2008 as Opscode, Chef has built a product suite to automate the building, deployment, management and securing of software applications.
The company made its product…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
