Lowenstein represents private equity firm Mill Point Capital in its agreement to sell its portfolio company, Kemp, the always-on application experience company that helps enterprises deliver, optimize, and secure applications and networks across any cloud or hybrid environment. Kemp has entered into a definitive agreement to be acquired by Progress (NASDAQ: PRGS), the leading provider of products to develop, deploy, and manage high-impact applications, for $258 million in cash.
Kemp Loadmaster and Flowmon Network Visibility products monitor application performance, and distribute and balance traffic and workloads across servers, in the cloud or on premise, ensuring high performance and availability. They do this by leveraging machine learning to identify anomalies and alert IT professionals before end-users are impacted. These capabilities complement Progress offerings, such as WhatsUp Gold, a market leader in easy-to-use network management. Combined, they will offer the best application experience solution in the market.
The transaction is expected to close in October 2021, subject to obtaining regulatory approvals and satisfaction of other customary closing conditions.
The Lowenstein deal team includes Benjamin Kozinn, Michael A. Brosse, Gina M. Seong, Brianna M. Ferrante, Michael Walutes, Megan Monson, Taryn E. Cannataro, Bryan Sterba, Jeffrey M. Shapiro, Mark P. Kesslen, Michael J. Scales, Eric Jesse, Gavin J. Rooney, Doreen M. Edelman, Jacquelyn N. Ha, Revel Atkinson, Christian C. Contardo, and Kaitlyn M. Baietto.
About Lowenstein Sandler LLP
Lowenstein Sandler is a national law firm with over 350 lawyers based in New York, New Jersey, Palo Alto, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.
