Progress Software is acquiring DevOps and DevSecOps software specialist Chef for $220 million in cash, the companies say.
As quoted by Yogesh Gupta, CEO Progress Software:
“Chef is a market leader with best-in-class products, a vibrant developer community, an impressive blue-chip customer base, and highly skilled and engaged employees,”
Gupta also mentioned in his blog post that Progress “will continue to nurture the vibrant and thriving Chef open source community.”
Chef, based out of Seattle,and founded in 2008 is a pioneer and leader in the DevOps and DevSecOps. Founded in 2008, the company has more than $70 million in annual recurring revenue, Progress said.
However the deal also marks an end to Chef’s more than 10-year run as an independent vendor in the DevOps space. The company had raised $105 million since its founding and CEO Barry Crist recently boasted that it had posted its tenth consecutive year of record revenues in 2019.
