09:26 AM EDT, 03/28/2024 (MT Newswires) -- MariaDB ( MRDB ) said Thursday it has received an unsolicited indicative proposal from Progress Software ( PRGS ) to buy the company.

MariaDB ( MRDB ) said its board is "reviewing and taking advice regarding" the offer.

"The Possible Offer may or may not lead to an offer being made for the entire share capital of the Company. There can be no certainty that any offer will be made," MariaDB ( MRDB ) said.

Progress said separately that "any offer by Progress for MariaDB ( MRDB ) is, or is likely to be, solely in cash."

MariaDB ( MRDB ) shares were falling past 7% in recent Thursday premarket activity and Progress shares were up 0.7%.