Francisco Partners and Vista Equity Partners have made a preliminary all-cash approach to acquire Progress Software (PRGS) at $48 per share, according to people familiar with the matter, in what would rank among the latest high-profile take-private deals in the enterprise software sector. The approach, which remains informal and has not resulted in a signed agreement, carries a meaningful premium to where Progress Software shares have recently traded. People briefed on the situation warned that talks are at an early stage and may not culminate in a transaction. Progress Software’s board has begun evaluating the unsolicited proposal with the help…
The office floors where UiPath Inc. software silently operates don’t appear especially futuristic on a…
Spotlight
The King Abdulaziz International Conference Center in Riyadh doesn’t seem like the birthplace of international tech regulations. Footsteps are absorbed by the thick carpets. Besides the translation headsets are half-finished coffee cups. Attendees lean forward and pay close attention as presenters go over a topic that was previously thought to be solely Californian: the proper conduct of artificial intelligence. Silicon Valley is not the source of this conversation. In collaboration with the Islamic World Educational, Scientific, and Cultural Organization, the Saudi Data and Artificial Intelligence Authority has started to develop an ethics charter that goes beyond governing AI in the…
The coworking space in Dubai Marina hums with the low rhythm of coffee makers and laptops on a calm afternoon. A startup founder is leaning over her screen at a corner desk, typing rapidly. She’s not sending a lawyer an email. Rather, she launches an AI program and requests that it produce a shareholders’ agreement. A document that is organized, formatted, and even courteous appears a few seconds later. These kinds of moments are becoming oddly frequent. Additionally, a young Abu Dhabi-based legal technology startup thinks it can advance that moment even further. Field Details Company Qanooni Industry Legal Technology…
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