Progress Software Corporation has signed an agreement to acquire eXcelon, a leading provider of XML tools and data management software, in an all-cash transaction worth $24 million. The acquisition has been made to strengthen the capabilities of Sonic Software, its 100%-owned Internet middleware company.
Sonic Software has received significant media and analyst attention over the last two years and is now considered a leader in distributed, standards-based integration.
Gartner has named Progress the first company to deliver in a newly defined category, which it has called the "Enterprise Service Bus". Progress, with SonicXQ, was deemed to be the first company to deliver on the promise of a standards-based, service-oriented architecture for integrating enterprise applications and business partners.
Gartner notes: "With the eXcelon acquisition, Progress aims to enhance the success of Sonic. By bringing in XML technology, SonicXQ will have the core functions of a full integration suite such as those of Tibco Software, Vitria Technology, webMethods and Microsoft`s BizTalk. However, even with the option of eXcelon-based extensions, SonicXQ will probably cost less than the competing integration suites."
"This acquisition will strengthen Sonic`s ESB and bring Progress closer to its goal of providing the ideal software platform for all levels of distributed, standards-based integration," says Rick Parry, MD at Progress Software SA.
eXcelon`s Stylus Studio and eXtensible Information Server (XIS) will increase the fulfilment of Sonic`s ESB strategy for standard-based enterprise integration by expanding the current SonicXQ platform with complementary components. "Sonic has enjoyed a very successful year in the local market. The eXcelon acquisition will bring further opportunities as all the corporation`s benefits will be mirrored in SA," says Parry.
The new offerings will be phased into the SonicXQ product line over the next year, with initial product bundles scheduled for Q1 2003 availability.
"Progress is widely respected for its stable and high-performing products and our company brings many complementary products to Progress, particularly within its high growth operating company, Sonic Software," says Joe Bellini, CEO at eXcelon. "The common vision for standards-based integration reflects a commitment to cost-effective distributed computing and real-time businesses. Our eXtensible Information Server, ObjectStore and Stylus Studio customers will welcome Progress`s deep expertise in developing and supporting database products and its financial strength."
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