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Progress Software completes acquisition of IONA Technologies


Progress acquired IONA for an aggregate purchase price of $162-million and $107-million net of cash and marketable securities reported on 30 June 2008, which it funded with existing cash resources.

Joseph Alsop, co-founder and CEO of Progress Software, comments: "The addition of IONA will strengthen Progress's position as the industry's
independent choice for infrastructure software supporting heterogeneous, distributed IT environments implementing a service-oriented rchitecture (SOA).
"IONA's products complement the Progress SOA portfolio with leading-edge, best-in-class technology and enable a wider variety of interoperability and deployment options, including the support of high-performance, mission-critical systems based on C and CORBA.
"Moreover, Progress intends to leverage IONA's leadership role in standards bodies and open source software development."