Progress Acquires Kinvey to Marry Backend, Frontend Mobile App Dev
One of Gartner’s Magic Quadrant leaders has acquired a ForresterWave-recognized top company from the application development platform landscape, bringing together solution providers who specialize in Backend-as-a-Service and frontend technologies.
Progress announced this week it has acquired BaaS provider Kinvey for an all-cash sum of $49 million. Progress is an application development platform focusing on cognitive-first applications harnessing big data and build interfaces for any kind of device.
Kinvey’s Backend-as-a-Service platform is used to help build and deploy apps across all industries and is currently supporting 31,000 apps used by more than 100 million end-users, according to the company.
Both companies are based in Massachusetts and combined will have about 1,700 employees, according to Fortune. This is Progress’s second acquisition of 2017, after it swooped up machine learning and predictive analytics vendor DataRPM.
“Kinvey was an early pioneer in the BaaS space and brought to market a leading-edge solution that enables developers to operate a serverless and compliant cloud backend for any native, hybrid, web or IoT app,” said Yogesh Gupta, CEO of Progress in a statement. “By bringing together Kinvey’s leading Backend as a Service with our front-end development, predictive analytics and data connectivity technologies, we are doing something unique; we are offering customers the only complete, open stack for building and deploying cognitive applications.”
Now equipped with a BaaS leader and data analytics component, Progress has quickly become a major player in the intelligent apps development market.