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Progress Software to acquire Iona Technologies

By David Worthington

June 25, 2008 — (Page 1 of 2)
Progress Software bought another SOA specialist this month in what looks like a bit of a shopping spree. After picking up Mindreef last week, the company has reached a definitive agreement to acquire Iona Technologies, a developer of SOA infrastructure software that Progress believes will round out its product portfolio.

The companies jointly announced today that Progress Software has agreed to pay Iona shareholders US$4.05 per share in a transaction with a total equity value of approximately $162 million. The Iona board of directors voted unanimously to approve the deal.

The transaction will be completed in September, provided it meets with the approval of government regulators and Iona shareholders. The company would then become a wholly owned subsidiary of Progress.

“Finally, a SOA infrastructure deal that makes good sense on both sides,” noted Jason Bloomberg, a senior analyst with 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 the market at what is arguably a fire sale price,” he added.

The deal with Iona comes on the heels of Progress’ buyout of Mindreef, a firm that focused on quality management and testing tools for SOA. Mindreef may be best known for its SOAPscope Server.

Iona may be best known for its Artix product line, which includes the Artix ESB, Artix Connect for WCF (Windows Communication Foundation) and Artix Data Services, as well as other lines, including its versions of open-source testing products, sold under the Fuse brand. Iona also brings to the table a reasonably solid legacy CORBA clientele with its Orbix customers, noted Bloomberg.

The Artix ESB (enterprise service bus), which is a fork of the open-source Fuse ESB, a derivative of Apache ServiceMix, has a distributed architecture that does not rely on a centralized server. Its use of distributed endpoints allows for incremental adoption and the dynamic configuration of services.

It is contrasted by Progress’ Sonic ESB, which takes a more traditional MQ-based approach. The ESB is built upon Progress’ Sonic XQ message queue technology.

Related Search Term(s): SOA & SaaS, Iona, Progress

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Progress puts its Mindreef assets to work on SOA
A combination of design-time and runtime application life-cycle validation is the focus of the latest update to Actional. These updates take Actional’s existing production-side transaction tracking and tracing capabilities and puts them into the development phase Read More...

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