Progress® Software Corporation to Acquire IONA Technologies
Progress® Software Corporation and IONA Technologies plc (NASDAQ: IONA), an established supplier of software integration technology, today announced that they have signed a definitive agreement under which Progress Software has agreed to acquire IONA for $4.05 per share in cash. Upon completion of the transaction, which is expected to occur in September pending regulatory approval, IONA would become an indirect wholly owned subsidiary of Progress Software. The combination of Progress Software and IONA creates the industry choice for truly independent, heterogeneous service oriented architecture (SOA) infrastructure. Through its Artix product line, IONA provides some of the industry's most advanced Web-standards based integration technologies in support of a SOA. In addition, IONA offers open source SOA integration components through its FUSE product line. For 15 years, IONA has been the industry leader in CORBA integration technology, a well-established integration standard currently relied upon in mission-critical IT systems of some of the world's largest companies.
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Progress® Software Acquires Mindreef
Progress® Software has completed the acquisition of Mindreef, Inc. Mindreef was privately held and it develops and markets the award-winning Mindreef® SOAPscope® products, which enable different IT users such as business analysts, system architects, application developers, testers, and operations and support staff to build, deploy, and maintain better software at each phase of a services-oriented architecture (SOA), Web service or composite application development lifecycle. With the combination of Actional and SOAPscope, Progress is the first and only company to address the entire SOA lifecycle with best-in-class SOA quality and validation capabilities and industry-leading runtime governance capabilities, ensuring the success of SOA deployments. Read more about this acquisition, which continues Progress’ expansion of its best-in-class SOA Portfolio and strengthens the company’s position as a leader in independent, standards-based, heterogeneous, distributed SOA infrastructure.
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View Progress® Webinar: “Corporate Social Responsibility: How to Get Green with IT”
The financial results delivered by a company in today's economy are no longer the only defining measure of its strength. Increasing importance is being placed on each company's approach to corporate social responsibility and environmental sustainability. View this online Webinar hosted by Industry Week and sponsored by Progress® and find out how technology can help enable lean manufacturing in support of a more environmentally conscious marketplace using service-oriented architecture (SOA) and event-processing to bring greater visibility and control to their processes and more flexible integration of new and existing business applications.
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Progress® Software Named in 20th Annual "Globe 100"
Progress® Software Corporation has been named to the “Globe 100” list of top performing public companies in Massachusetts for 2008. Based on a composite score derived from financial data for the four quarters ending December 31, 2007, Progress Software was ranked 46 among Massachusetts-based companies whose stock is publicly traded on NASDAQ, New York Stock Exchange, or the American Stock Exchange. “Twenty-five years of continuous innovation has enabled Progress Software to post an enviable financial record, superior to almost every other enterprise software company, with 26 consecutive quarters of year-over-year revenue growth, and 23 years of operating profitability. The Boston Globe ranking marks the sixth consecutive year Progress Software has been listed on the Globe 100 list,” said John Stewart, Director of Corporate and Marketing Communications, Progress Software. "Being ranked among the top 100 companies in Massachusetts is a testament to Progress' ability to sustain growth while delivering superior enterprise solutions."
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Progress® Software Reports 2008 Second Quarter Results
Progress® Software Corporation (NASDAQ: PRGS) has announced results for its second quarter ended May 31, 2008. Revenue for the quarter was $128 million, up 7 percent (up 1 percent at constant currency) from $120 million in the second quarter of fiscal 2007. Software license revenue increased 1 percent (down 4 percent at constant currency) to $45.0 million from $44.6 million in the same quarter last year. On a generally accepted accounting principles (GAAP) basis, operating income increased 83 percent to $20.6 million from $11.3 million in the second quarter of fiscal 2007. Net income increased 72 percent to $14.5 million from $8.4 million in the same quarter last year. Diluted earnings per share increased 74 percent to 33 cents from 19 cents in the second quarter of fiscal 2007. Joseph Alsop, Co-Founder and Chief Executive Officer of Progress Software, stated: "Our overall revenue results were solid, with strong profitability. While our DataDirect® product line and our overall product license revenue were below our expectations, growth in our OpenEdge® and Enterprise Infrastructure product lines was in line with our expectations, with particularly strong growth in our Apama® product line."
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