Progress Software Acquires Iona
With Iona in the fold, Progress becomes a bigger SOA player.In something of a surprise, Progress Software announced June 25 that it is buying Iona Technologies for about $162 million. Iona's board of directors has unanimously approved the transaction, and each Iona Technologies director has entered into an agreement to vote in favor of the deal.
Although it was no secret that Iona was up for sale, over the last few weeks the rumor was that Red Hat was courting the SOA (service-oriented architecture) and middleware specialist. However, apparently Red Hat was not even among the serious contenders for the business.
"We are proud to inherit Iona's long history and reputation for developing some of the industry's most respected and well-recognized technology for integrating mission-critical systems, often involving hundreds of applications and millions of transactions per day over diverse IT environments. We certainly expect to benefit by enhancing and extending these customer relationships and by leveraging Iona technology within products across our SOA portfolio. Iona products are very complementary to what Progress offers today and Iona customers can rest assured that Progress is committed to the same high standards of support, product quality, and performance."The deal is expected to close in September.