Progress Software exploring sale: sources


A view of the exterior of the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City, in this May 20, 2015 file photo. JPMorgan Chase & Co, kicking off the second-quarter earnings season for U.S. banks, reported a stronger-than-expected rise in profit July 14, 2015, helped by a drop in legal and restructuring expenses and a smaller tax bill. REUTERS/Mike Segar/Files

Business software company Progress Software Corp is considering a sale as part of an exploration of strategic alternatives and has spoken to private equity firms about a potential deal, according to people familiar with the matter.

Progress Software is working with investment bank JPMorgan Chase & Co on a limited auction process that was open to only a small number of buyout firms, the people said this week.

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