In a move to muscle up in the app dev space, platform services provider Progress Software is in the process of acquiring development software vendor Telerik for US$262.5 million.

Progress plans to fold Telerik’s tools into its developer platform, Progress announced Wednesday.

Telerik will bring to Progress a sizable user base of over 1.4 million developers. The company’s revenue over the past year has been $60 million, and it is currently increasing its business by more than 20 percent.

Telerik sells a suite of user interface development tools and application life cycle management products. The company supports a variety of languages, including Microsoft .NET, Java, JavaScript and Node.js, and Progress’ OpenEdge Advanced Business Language.

To read this article in full or to leave a comment, please click here