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Progress To Buy IONA: Another SOA Infrastructure Vendor Mashup

Posted on June 25, 2008

Call it a Route 128 SOA date. Progress Software is buying IONA Technologies for a little over $100 million in actual value, broadening Progress s service oriented architecture [SOA] portfolio significantly and catapulting Progress into the open source software infrastructure arena. Progress (PRGS) said Wednesday it is offering $4.05 per share in cash for IONA Technologies (IONA), a total equity value of $162 million, or $106 million net of cash and marketable securities. Both companies are publicly traded. The transaction is expected to be completed in September....

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open source , software