October 19, 2012 - The software investment arm of Trilogy Enterprises announced that it has signed a definitive agreement to acquire four businesses from Progress Software: Sonic, Savvion, Actional and DXSI.
Trilogy intends to combine the businesses to form “a new ‘best of breed’ intelligent business process, application, and data management company,” according to the announcement. The new company, called Aurea Software, will be led by Scott Brighton, who is currently president of Trilogy Enterprises.
“The promise of intelligent business process, application, and data management – and the ability to provide real-time insights on complex business processes across the cloud, mobile, and social – is the most exciting idea to emerge in the business process management space since its inception,” said Scott Brighton, Aurea CEO, in the announcement.
Progress’ Executive Chairman Phil Pead stated the divestitures will allow the company to focus on its current core business, and it will continue to “concentrate on providing the most productive, cost-effective, on-premise, cloud- and mobile-enabled platforms for developing, deploying, and maintaining the world’s best business applications.”
The divestitures announced to date represent 80 percent of Progress’ non-core revenue stream, including the sale of FuseSource to RedHat in June and the pending sale of its Shadow product line to Rocket Software, expected to close in the near future.
Upon initial formation, Aurea Software will have more than 1,500 worldwide customers and revenue of approximately $100M and will be supported by a team of 250 people, according to the announcement.
The transaction is subject to customary closing conditions and is expected to be completed in November.
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