Progress Software making progress on plan to deivest 10 non-core product lines

Phil Pead, Executive Chairman of the Board of Directors, says "Progress has actively implemented cost reduction initiatives and has substantially completed the reduction of our budgeted 2012 expense run rate by approximately $55M gross value, with the net reduction of $40M after reinvesting $15M back into the Core segment. In addition, we continue to make progress on our plan to divest 10 non-core product lines, which we expect to complete on schedule."

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