SDTimes

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’... More

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 Less