BY DAVID WORTHINGTON
Continuing its shopping spree,
Progress Software has bought
another SOA specialist.
The company has reached a definitive
agreement to acquire Iona Technologies, a developer of SOA infrastructure software that would
round out Progress’...
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BY DAVID WORTHINGTON
Continuing its shopping spree,
Progress Software has bought
another SOA specialist.
The company has reached a definitive
agreement to acquire Iona Technologies, a developer of SOA infrastructure software that would
round out Progress’ product portfolio.
The move follows Progress’
acquisition last month of Mindreef.
Under the most recent deal,
Progress would pay Iona shareholders US$4.
05 per share, in a
transaction valued at $162 million.
The Iona board unanimously approved the deal, which now
awaits the OK from government
regulators and Iona shareholders.
The deal is expected to be completed in September, at which
time Iona would become a wholly owned subsidiary of Progress.
“Finally, a SOA infrastructure
deal that makes good sense on
both sides,” said Jason
Bloomberg, a senior analyst at
ZapThink.
“Iona gets to be part
of an organization that has strong
sales and marketing, as well as a
deep customer base, and
Progress gets some of the better
technology on
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