Progress Software has agreed to acquire Irish company IONA for $4.05 (approximately €2.60) per share in cash.
Progress Software Corporation is a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, and IONA Technologies plc is an established supplier of software integration technology.
IONA will become an indirect wholly owned subsidiary of Progress Software.
The IONA Technologies Board of Directors has unanimously approved the transaction, which is expected to occur in September pending regulatory approval in the US, IONA shareholder approval and issuance of an order by the Irish High Court.
The companies claim that the combination of Progress Software and IONA creates the industry choice for truly independent, heterogeneous Service Oriented Architecture (SOA) infrastructure.
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