Progress Software to Acquire Telerik for $263 Million

Founded in 2002 by a group of AUBG alumni and friends, Telerik rapidly grew from a company focused primarily on .NET development tools, to one that offers comprehensive platform and software tools for web, hybrid, native, mobile and desktop app development; subscription services for cross-platform app development; and now supports a community of over 1.4M developers.

By 2013 Telerik has grown to 800 people in 11 offices, winning several industry awards for its products and business practices, and established itself among the leaders in their domain.

In October 2013 it was announced that US Progress Software has agreed to acquire the privately held Telerik AD in a record $263 million deal that the company says will allow it to form a comprehensive cloud platform for developers for any device.

Read more in Telerik’s press-release.

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