Progress Software to Acquire IONA Technologies for $162 Million - Bedford, MA

Progress Software, a Bedford-based supplier of software for managing business applications, has agreed to pay $162 million to acquire IONA, an Ireland-based supplier of software integration technology. Large organizations use IONA’s technology for their systems, primarily in the telecommunications, financial services, manufacturing, and government sectors. “The combination of Progress Software and IONA creates the industry choice for truly independent, heterogeneous Service Oriented Architecture (SOA) infrastructure,” according to the announcement. The deal, expected to close in September, is subject to regulatory approval in the U.S., IONA shareholder approval and issuance of an order by the Irish High Court.

http://www.progress.com/investors
http://www.iona.com