Dutch IT Channel – Progress Software offers less than $41 million for MariaDB

Progress is offering $0.60 per share for MariaDB, which is lower than K5 Private Investors’ previous offer of $0.55 per share. Both offers value MariaDB significantly lower than the IPO price.

Progress Software is a provider of application development and infrastructure software. The company says MariaDB’s RDBMS products provide a valuable proposition for customers who need a scalable, open source database with the backing of a trusted enterprise software company. Progress claims to have a proven track record in both database management and collaboration with the open source community.

Progress Software’s offer is not yet final and MariaDB has not yet taken a formal position. It is unclear whether there will be any other bidders.

Background

• MariaDB is a provider of open source database technology, based on the MySQL database.
• The company went public in December 2022 with a valuation of $672 million.
• K5 Private Investors made an offer of $0.55 per share for MariaDB in February 2024.
• Progress Software has now made an offer of $0.60 per share.