IONA Purchases Netfish Technologies (And Much, Much More)
M. Reed - March 20, 2001

Event Summary

As the last step in a long list of acquisitions, IONA Technologies (NASDAQ: IONA) has purchased Netfish Technologies, a provider of integrated XML-based B2B process collaboration solutions. The total consideration of 5.5 million shares of IONA common stock, approximately $270 million based on IONA's closing price of $49.0625 per share on February 14, 2001, to be accounted for as a purchase. This acquisition, along with six others including the Sagavista EAI technology from Software AG (which had recently purchased Saga Systems), completes IONA's strategy to create a Total Business IntegrationÖ solution, a standards-based, end-to-end, e-business platform known as the IONA Suite. IONA is a pioneer in the ORB and CORBA« (Common Object Request Broker Architecture) market with its flagship Orbix« product. Orbix also includes IONA's Adaptive Runtime TechnologyÖ (ART), one of the foundations of the IONA Suite...