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Business management software firm Progress Software Corp. has acquired Corticon Technologies Inc., a business decision automation software developer in Redwood City, Calif.
The buyout is expected to bring Corticon’s Business Rules Management System (BRMS) to Bedford-based Progress, as part of its Responsive Process Management suite, which combines Business Process Management (BPM), Complex Event Processing (CEP), Business Transaction Assurance (BTA), and Business Analytics through the Progress Control Tower product.
No financial terms of the acquisition were disclosed. As part of the transaction, however, Corticon founder and CEO Mark Allen has taken an undisclosed role with Progress Software.
Progress Software (Nasdaq: PRGS) announced last week that it had appointed Jay Bhatt, a veteran of Autodesk Inc., as CEO of the company. Three months prior, Richard Reidy, CEO at the time and 27-year veteran of Progress Software, announced that he would be leaving the company once a successor was found.
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