Progress Agrees Apama Sale to Software AG
The financial terms of the deal were not disclosed, but the sale to Software AG, a German technology vendor, will include the transfer of the technology teams, as well as the US, Indian and UK technical staff.
Software will combine Apama's big data capabilities and CEP expertise ─ for which it recently won both the Buy-Side Technology and Sell-Side Technology Awards in the CEP categories ─ with its own analytics and in-memory technology. Apama itself will remain a distinct brand, with an enhanced push into compliance and surveillance.
"This acquisition is a major step in delivering on our strategy of empowering enterprises to derive meaningful business insights and value from big data," says Robin Gilthorpe, CEO of Terracotta at Software AG.
Progress acquired Apama in 2005. The sale is the second in a week of a large CEP vendor, with StreamBase Systems' acquisition by Tibco announced several days ago.
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