Progress announced that it entered into a definitive agreement to acquire Chef to provide complete infrastructure automation to build, deploy, manage and secure applications in modern multi-cloud and hybrid environments, as well as on-premises.
Progress is set to acquire the company for $220 million in cash and is expected to close next month.
“Chef has built a successful business, product portfolio and go-to-market strategy and we will expand and accelerate that by bringing our resources to bear, building on the momentum Chef has established to date,” said Yogesh Gupta, the CEO of Progress.
The acquisition will bolster Progress’ core offerings and enable customers to respond faster to business demands and improve efficiency. Chef’s mission is “to help the most enduring and transformative companies use technology to become fast, efficient and innovative software-driven organizations,” according to a press release.
Chef’s current products include Chef Enterprise Automation Stack, Chef Infra, Chef InSpec, Chef Habitat, Chef Compliance and Chef Desktop.
“Chef and Progress share a vision for the future of DevSecOps and Progress will provide the scale to further drive Chef’s platform forward and deliver additional value to our customers,” said Barry Crist, the CEO of Chef. “At the same time, Chef fills a need in the Progress portfolio in DevSecOps, infrastructure, application, and compliance automation that is highly complementary to its existing products. For Chef, this acquisition is our next chapter, and Progress will help enhance our growth potential, support our Open Source vision, and provide broader opportunities for our customers, partners, employees and community.”