Progress Software acquired today a web content management system (WCMS) provider that creates what company officials call a cloud and on-premise platform that enables developers to create "beautiful applications driven by data for any device or cloud."
The Bedford, Mass.-based 1,000-employee company announced its intentions to buy Telerik, makers of Sitefinity WCMS, for $262.5 million. According to Progress Software officials, Telerik has a community of 1.4 million developers that create user experiences across cloud, web, mobile and desktop applications.
Telerik's revenue for the last 12 months was more than $60 million, with annual bookings growth of more than 20 percent. It has about 750 employees based in nine global offices, including three in the US.
"User experience is defining the way application software is being selected," Phil Pead, Progress CEO, said in a statement. "Telerik's strength is in helping developers create elegant, custom user interfaces for their cloud, web-based and on-premise applications."