Founded in Burlington, Massachusetts with offices in 16 countries, the company posted revenues of $531.3 million (USD) in 2021 and employs approximately 2100 people.

[3] Progress Software was co-founded by several MIT graduates, including Joseph W. Alsop, Clyde Kessel, and Chip Ziering in 1981.

[10][11] In 2008, Progress Software acquired Xcalia, a data integration company, and Mindreef, which developed SOAPscope products.

In September 2008, Progress acquired IONA Technologies, developer of service-oriented architecture platforms Artix and Orbix, for $146 million.

In 2012, Progress announced its shift to become a much more narrowly focused specialist vendor, looking to sell or decommission most of their existing products.

[16][17] In June 2012, the company sold its open source division FuseSource, which was spun out from the IONA business in October 2010, to Red Hat.

In 2023, a security vulnerability in Progress-owned file transfer software MOVEit was exploited in a data breach affecting various companies and government organizations.