Sign up to The Irish Times Archive (1859 - 2008)My Account »
Fri 08 Aug 2008Iona shareholders back $162m takeover by Progress Software
SHAREHOLDERS IN Iona Technologies voted overwhelmingly in favour of the company’s acquisition by Progress Software at meetings convened in Dublin yesterday.
The Progress offer of $4.05 (€2.75) a share values the Irish software company at $162 million. During its peak in 2000 the company was worth $1.75 billion and had an annual turnover in excess of $100 million.
Choose a Subscription type - required
