Software platform vendor Progress has acquired backend as a service (BaaS) provider Kinvey for US$49 million.
Kinvey's BaaS frees app developers and providers from having to build their own backend services, allowing them to create and deploy new apps more quickly.
It is used by organisations including Schneider Electric, VMware, Bell and Howell, and Macquarie.
More than 10 billion Kinvey BaaS API calls from more than 31,000 apps and 100 million users are served each month.
{loadposition stephen08}"Kinvey was an early pioneer in the BaaS space and brought to market a leading-edge solution that enables developers to operate a serverless and compliant cloud backend for any native, hybrid, web or IoT app," said Progress CEO Yogesh Gupta.
"By bringing together Kinvey’s leading Backend as a Service with our front-end development, predictive analytics and data connectivity technologies, we are doing something unique - we are offering customers the only complete, open stack for building and deploying cognitive applications."
Progress’ NativeScript and DataDirect data connectivity products have already been integrated with Kinvey.
The addition of Kinvey’s backend platform to Progress’ front-end, predictive analytics, rules engine, and data connectivity technologies means Progress can now provide an end-to-end service for building and delivering mission-critical apps.
"Cognitive-first is the future of new application experiences, and we are thrilled to join Progress as a core component of their leading product portfolio for delivering on this future for our customers." said Kinvey founder and CEO Sravish Sridhar.
Earlier this year Progress acquired machine learning and predictive analytics vendor DataRPM.