Progress Software Corp. (PRGS) affirmed on Thursday that it has no plans to propose an offer for MariaDB plc.
Previously, on the 19th of April, Progress Software had revealed a potential offer. It proposed to acquire shares of MariaDB, a leading cloud database company, at a rate of $0.60 each in cash. This proposal would've valued the entire issued capital of MariaDB at an estimated $40.6 million.
Progress Software's offer had promised a premium of 9 percent over K1 Capital's potential offer. Additionally, the offer was 88 percent higher than MariaDB's average closing share price over the last 30-day period and 216 percent higher than MariaDB's closing share price on February 5.
