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Progress Software to use credit facility to fund acquisition of Chef
By Taylor Fox
New York, Sept. 8 – Progress Software Corp. will use funds secured under its existing credit facility in addition to cash on hand to fund its acquisition of Chef.
Progress will acquire Chef for $220 million in cash, according to a news release.
The transaction is expected to close in October.
Progress is a Bedford, Mass.-based provider of application development and digital experience technologies.
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