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Progress Software acquires BPM vendor Savvion for $49m

Progress Software, a vendor of SOA, database and integration tools, announced its acquisition of business process management provider Savvion today for $49 million cash. The move broadens the already wide scope of products offered by Progress to include its first BPM offering.

Progress CTO John Bates said Savvion was attractive particularly because its offering includes business rules and document management, as well as event and analytic engines. Also important, he said, were Savvion’s pre-built process models for a number of industry verticals, including financial services, healthcare, communications and others.

Savvion is a privately held company out of Santa Clara, Calif.

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