Progress Software, maker of applications used to build the infrastructure of retail, manufacturing, financial or government organizations, has acquired Savvion, a producer of software targeted at business management, for an estimated $49 million, according to Private Equity Hub. Savvion, based in Santa Clara, Calif., was backed by H.I.G. Capital, Redwood Ventures, TransCosmos, Westaim Partners, Walden International and VantagePoint Venture Partners. It had raised about $52 million to date.
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