Progress Software Corporation (PRGS) is acquiring ShareFile, a SaaS-native, AI-powered document-centric collaboration platform, for $875 million. The acquisition is expected to contribute over $240 million in annual revenue and add more than 86,000 customers to Progress. Progress will suspend its quarterly dividend to redirect capital towards debt repayment and future acquisitions. The company expects to meet or exceed its revenue and earnings guidance for the third quarter.