In its second-largest acquisition, Amazon buys the company for $970 million.
The company, whose business applications include the Progress EasyAsk site search and merchandising software used by online retailers, has named Richard D. Reidy president and CEO. He replaces Joseph W. Alsop who helped found the company in 1981.
Progress Software Corp., whose business applications include the Progress EasyAsk site search and merchandising technology used by online retailers, has promoted chief operating officer Richard D. Reidy to president and CEO. He replaces Joseph W. Alsop who helped found the company in 1981.
“I’m excited and honored to have the opportunity to help lead this company to the next level of growth,” Reidy says. “I’m confident that Progress has the right strategy, people and technology to be even more successful.”
Reidy joined Progress Software in 1985 and was one of the original developers of the Progress OpenEdge application development platform. He held several senior management positions and was named chief operating officer last year.
“Rick is a unique individual combining strong strategic and leadership strengths with complete integrity and a wide variety of experience in the software business,” Alsop says. “Progress Software and I have benefited tremendously from Rick`s contributions through the last two decades.”
Besides taking on his new posts, Reidy has been nominated for election to the board of directors at this year’s annual shareholder meeting. Alsop has resigned as president and CEO and says he will not stand for reelection to the board of directors when his term ends.
Progress Software acquired EasyAsk in 2005.