Progress Software Enhances AI Offerings with Acquisition of Nuclia's RAG-as-a-Service Solutions

Progress Software acquires Nuclia to enhance AI-driven information retrieval and automate reliable generative answers for organizations.

Quiver AI Summary

Progress Software has announced its acquisition of Nuclia, a company specializing in agentic Retrieval-Augmented Generation (RAG) AI solutions. This acquisition introduces an easy-to-use RAG-as-a-service product that allows organizations to utilize their proprietary business information to generate accurate and verifiable AI-driven answers. Progress Software's CEO, Yogesh Gupta, emphasized that this self-service SaaS solution is accessible to both small and large enterprises without requiring a major upfront investment. Nuclia’s technology enhances the Progress Data Platform, aiming to broaden the market reach for businesses looking to implement RAG capabilities. Both companies expressed enthusiasm about the partnership and the potential advancements in AI technology it will enable.

Potential Positives

Progress Software enhances its product offerings by acquiring Nuclia, an innovator in agentic Retrieval-Augmented Generation (RAG) AI solutions, broadening its capabilities in AI-powered search and generative answers.
The acquisition of Nuclia allows Progress Software to extend the end-to-end value of its Data Platform, creating new market opportunities for organizations to leverage advanced RAG technology.
Nuclia's easy-to-use, self-service SaaS product democratizes access to trustworthy and verifiable GenAI, making it accessible to both small and mid-sized businesses, as well as large corporations.

Potential Negatives

The press release states that the acquisition is immaterial to Progress’ financials, which may imply that it won’t significantly impact revenue or growth, potentially raising questions about the strategic value of the acquisition.
There is no detailed financial information or strategic context provided regarding how the acquisition will enhance Progress Software's competitive position in the market.
The focus on 'democratizing' advanced AI technology may suggest that the company is positioning itself as serving a less premium market, which could affect perceptions of its brand and value proposition.

FAQ

What is RAG-as-a-service offered by Nuclia?

RAG-as-a-service is a product that enables organizations to use their proprietary data to retrieve accurate AI-generated answers.

How does Nuclia's technology benefit organizations?

Nuclia's technology allows organizations to access trustworthy and verifiable AI answers without significant upfront investment.

Who can use the Nuclia RAG product?

Small to mid-sized businesses and large corporations can leverage Nuclia's RAG product effectively.

What is the significance of Progress Software's acquisition of Nuclia?

The acquisition enhances Progress Software's offerings by integrating advanced RAG technology to provide better data solutions.

Where can I learn more about Nuclia's services?

You can learn more about Nuclia by visiting their official website at https://nuclia.com.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$PRGS Insider Trading Activity

$PRGS insiders have traded $PRGS stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.

Here’s a breakdown of recent trading of $PRGS stock by insiders over the last 6 months:

LOREN JARRETT (EVP/GM Digital Experience) has made 0 purchases and 5 sales selling 44,167 shares for an estimated $2,643,297.
ANTHONY FOLGER (Chief Financial Officer) has made 0 purchases and 3 sales selling 15,000 shares for an estimated $844,555.
DOMENIC LOCOCO (Chief Accounting Officer) has made 0 purchases and 2 sales selling 8,185 shares for an estimated $466,647.
IAN PITT (Chief Information Officer) has made 0 purchases and 2 sales selling 2,185 shares for an estimated $123,453.
YUFAN STEPHANIE WANG (Chief Legal Officer) sold 1,428 shares for an estimated $83,209

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$PRGS Hedge Fund Activity

We have seen 155 institutional investors add shares of $PRGS stock to their portfolio, and 192 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

PACER ADVISORS, INC. removed 1,140,631 shares (-99.8%) from their portfolio in Q1 2025, for an estimated $58,753,902
CAPITAL INTERNATIONAL INVESTORS added 722,081 shares (+inf%) to their portfolio in Q1 2025, for an estimated $37,194,392
WELLINGTON MANAGEMENT GROUP LLP added 478,627 shares (+54.5%) to their portfolio in Q1 2025, for an estimated $24,654,076
FULLER & THALER ASSET MANAGEMENT, INC. removed 436,094 shares (-36.3%) from their portfolio in Q1 2025, for an estimated $22,463,201
LEUTHOLD GROUP, LLC removed 409,752 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $26,695,342
RENAISSANCE TECHNOLOGIES LLC removed 381,611 shares (-41.5%) from their portfolio in Q1 2025, for an estimated $19,656,782
DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTS BANK, FRANKFURT AM MAIN added 374,456 shares (+3524.0%) to their portfolio in Q1 2025, for an estimated $19,288,228

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$PRGS Analyst Ratings

Wall Street analysts have issued reports on $PRGS in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Wedbush issued a "Outperform" rating on 06/27/2025
Guggenheim issued a "Buy" rating on 06/27/2025

To track analyst ratings and price targets for $PRGS, check out Quiver Quantitative's $PRGS forecast page.

$PRGS Price Targets

Multiple analysts have issued price targets for $PRGS recently. We have seen 3 analysts offer price targets for $PRGS in the last 6 months, with a median target of $75.0.

Here are some recent targets:

Daniel Ives from Wedbush set a target price of $75.0 on 06/27/2025
John Difucci from Guggenheim set a target price of $83.0 on 06/27/2025
Brent Thill from Jefferies set a target price of $70.0 on 01/06/2025

Full Release

Company adds easy-to-use agentic RAG-as-a-service product for organizations to automate and retrieve verifiable, high-quality AI search and generative answers

BURLINGTON, Mass., June 30, 2025 (GLOBE NEWSWIRE) -- Progress Software (Nasdaq: PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced the acquisition of Nuclia , an innovator in agentic Retrieval-Augmented Generation (RAG) AI solutions. Nuclia provides a unique agentic RAG-as-a-service product enabling organizations to automatically leverage their own proprietary business information to retrieve verifiable, accurate answers using GenAI.

“Nuclia’s easy-to-use, self-service SaaS product democratizes the use of trustworthy and verifiable GenAI,” said Yogesh Gupta, CEO of Progress Software. “Small to mid-sized businesses, as well as large global corporations, can quickly and easily reap the benefits of sophisticated agentic RAG capabilities using Nuclia SaaS without the need for significant upfront investment.”

“The rapid evolution of AI has transformed how organizations interact with information, creating new possibilities for more accurate, dynamic, and context-aware systems,” said Eudald Camprubí, CEO and Co-founder at Nuclia. “Agentic RAG is a cutting-edge approach that combines the power of large language models (LLMs) with business’ own proprietary data to provide accurate and trustworthy answers. Our team at Nuclia is proud of what we have built, and we are excited to join Progress to continue to advance this important technology.”

Nuclia will extend the end-to-end value of the Progress Data Platform while creating opportunities to reach a broader market of organizations looking to easily leverage the value of agentic RAG technology.

The acquisition was signed and closed today and is immaterial to Progress’ financials.

To learn more about Nuclia, go to https://nuclia.com .

About Progress Software
Progress Software (Nasdaq: PRGS) empowers organizations to achieve transformational success in the face of disruptive change. Our software enables our customers to develop, deploy and manage responsible AI-powered applications and digital experiences with agility and ease. Customers get a trusted provider in Progress, with the products, expertise and vision they need to succeed. Over 4 million developers and technologists at hundreds of thousands of enterprises depend on Progress. Learn more at www.progress.com .

About Nuclia
Nuclia, the RAG-as-a-Service company, is revolutionizing data-driven systems and processes to deliver previously unimaginable business value. Organizations across all sectors grapple with a common challenge: how to extract answers and unlock value from their internal data, both tacit and explicit. Nuclia uniquely solves this problem by converting this extensive and valuable repository of data into actionable, accessible knowledge. Learn more at https://nuclia.com .

Progress and Nuclia are trademarks or registered trademarks of Progress Software Corporation and/or one of its subsidiaries or affiliates in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners.

Press Contact:
Kim Baker
Progress Software
+1-800-477-6473
[email protected]