Progress Software Acquires Kinvey for $49 Million

Progress Software, a publicly-traded global software company, announced today that it has acquired mobile backend provider Kinvey for $49 million.

Based in Boston, Kinvey is the first backend-as-a-service platform that makes it easy for developers and enterprises to create and operate cloud backends for their mobile, tablet and web apps. The company’s service lets app developers spend 100 percent of their time on their mobile application, without having to worry about connecting to various cloud services or enterprise backend systems, setting up servers for their backend, or maintaining and scaling them. Developers only need to model their cloud backend needs, and Kinvey auto-generates the APIs they would need to access data from any mobile, web or computing platform. Developers then grab their APIs and connect to them directly or through native iOS, Android and JavaScript libraries provided by Kinvey.