Progress Software, one of the world's leading suppliers of application infrastructure software, has announced that all regulatory and legal requirements have been satisfied and that the acquisition of IONA Technologies is now complete.
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 architecture (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."
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