Updated below with details from interview with Chef CEO Barry Crist.
Business application platform Progress will acquire Seattle-based automation technology company Chef for $220 million in cash under a deal announced Tuesday.
It’s a major turn of events for a company that has been a mainstay of the Pacific Northwest tech community for more than a decade. Progress, based in Bedford, Mass., is publicly traded on the Nasdaq. The acquisition “will provide the scale to further drive Chef’s platform forward and deliver additional value to our customers,” said Chef CEO Barry Crist in a statement about the deal.
Chef raised more than $100 million in funding over its lifetime as a private company from investors including Battery Ventures, Citi Ventures, DFJ, Ignition Partners, and Hewlett Packard Ventures. The 270-person company, founded in 2008 as Opscode, focused