Progress’ $258 Million Acquisition of Kemp

Wilmer Cutler Pickering Hale and Dorr advised Progress on the deal, while Lowenstein represented Mill Point Capital.

Progress, the leading provider of products to develop, deploy and manage high-impact applications, has entered into a definitive agreement to acquire privately-held Kemp, the always-on application experience company that helps enterprises deliver, optimize and secure applications and networks across any cloud or hybrid environment, in a $258 million deal, expected to close in October 2021, subject to obtaining regulatory approvals and satisfaction of other customary closing conditions. This acquisition will allow Progress to expand its portfolio of market-leading products in DevOps, Application Development, Data Connectivity and Digital Experience, by adding Application Experience Management.

The WilmerHale team representing Progress was led by Partners Hal Leibowitz (Picture) and Andrew Bonnes, and included Chia-Chen Lee. Jeff Johnson, Tom Anderson and Chetan Chandra advised on intellectual property matters; Julie Hogan Rodgers and Meghan Walsh advised on tax matters; Scott Kilgore advised on executive compensation and employee benefits; Kirk Nahra and Reade Jacob advised on privacy matters; Lee Greenfield and Alvaro Mateo Alonso advised on antitrust matters; Barry Hurewitz advised on various regulatory matters; and Bonnie Heiple advised on environmental matters.

The Lowenstein deal team advising Mill Point Capital in the sale included Benjamin Kozinn, Michael A. Brosse, Gina M. Seong, Brianna M. Ferrante, Michael Walutes, Megan Monson, Taryn E. Cannataro, Bryan Sterba, Jeffrey M. Shapiro, Mark P. Kesslen, Michael J. Scales, Eric Jesse, Gavin J. Rooney, Doreen M. Edelman, Jacquelyn N. Ha, Revel Atkinson, Christian C. Contardo, and Kaitlyn M. Baietto.

Involved fees earner: Revel Atkinson – Lowenstein Sandler; Kaitlyn Baietto – Lowenstein Sandler; Michael Brosse – Lowenstein Sandler; Taryn Cannataro – Lowenstein Sandler; Christian Contardo – Lowenstein Sandler; Doreen Edelman – Lowenstein Sandler; Brianna Ferrante – Lowenstein Sandler; Jacquelyn Ha – Lowenstein Sandler; Eric Jesse – Lowenstein Sandler; Mark Kesslen – Lowenstein Sandler; Benjamin Kozinn – Lowenstein Sandler; Megan Monson – Lowenstein Sandler; Gavin Rooney – Lowenstein Sandler; Michael Scales – Lowenstein Sandler; Gina Seong – Lowenstein Sandler; Jeffrey Shapiro – Lowenstein Sandler; Bryan Sterba – Lowenstein Sandler; Michael Walutes – Lowenstein Sandler; Álvaro Mateo Alonso – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Thomas Anderson – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Andrew Bonnes – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Chetan Chandra – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Leon Greenfield – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Bonnie Heiple – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Julie Hogan Rodgers – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Barry Hurewitz – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Reade Jacob – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Jeff Johnson – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Scott Kilgore – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Hal Leibowitz – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Kirk Nahra – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Meghan Walsh – WilmerHaleWilmer Cutler Pickering Hale and Dorr;

Law Firms: Lowenstein Sandler; WilmerHaleWilmer Cutler Pickering Hale and Dorr;

Clients: Mill Point Capital; Progress Software Corp;

Martina Bellini

Author: Martina Bellini