Iona Technologies Adr (MM) (NASDAQ:IONA)
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IONA® Technologies (NASDAQ: IONA), a world
leader in distributed service-oriented architecture (SOA) infrastructure
solutions for performance-demanding IT environments, today announced
that Institutional Shareholder Services (ISS), a leading global proxy
advisory firm, recommends in favour of the resolutions for the proposed
acquisition of IONA Technologies by Progress Software. The resolutions
will be presented to IONA shareholders at both the Extraordinary General
Meeting and Court Meeting to be held on August 28, 2008 in Dublin,
Ireland.
About ISS Governance Services
With more than 20 years of experience, ISS Governance Services is a
leader in proxy voting and corporate governance matters. ISS Governance
Services' experienced research team provides comprehensive analyses of
proxy issues and complete vote recommendations for more than 40,000
meetings in over 100 worldwide markets.
ISS is a wholly-owned subsidiary of RiskMetrics Group, Inc. RiskMetrics
Group is a leading provider of risk management and corporate governance
products and services to participants in the global financial markets.
About IONA
For more than a decade, IONA® Technologies
(NASDAQ: IONA) has been a world leader in delivering high-performance
integration solutions for Global 2000 IT environments. IONA pioneered
standards-based integration with its CORBA-based Orbix®
products. IONA's Artix™, an advanced SOA
infrastructure suite enables customers to leverage service-oriented
architecture to streamline and modernize IT environments. The FUSE™
family of open source distributed SOA infrastructure products allows
customers to take advantage of the economic benefits associated with the
use of open source software.
IONA is headquartered in Dublin, Ireland, with U.S. headquarters in
Waltham, Massachusetts and offices worldwide. For additional information
about IONA, visit our Web site at http://www.iona.com.
About Progress Software Corporation
Progress Software Corporation (NASDAQ: PRGS) provides application
infrastructure software for the development, deployment, integration and
management of business applications. Our goal is to maximize the
benefits of information technology while minimizing its complexity and
total cost of ownership. Progress can be reached at www.progress.com
or +1-781-280-4000.
Disclosure Required by the Irish Takeover Rules
The directors of IONA Technologies accept responsibility for the
information contained in this announcement. To the best of the knowledge
and belief of the directors of IONA Technologies (who have taken all
reasonable care to ensure such is the case), the information contained
in this announcement is in accordance with the facts and does not omit
anything likely to affect the import of such information.
Any person who is a holder of 1% or more of the share capital of IONA
Technologies may have disclosure obligations under Rule 8.3 of the Irish
Takeover Rules, effective from the date of the commencement of the offer
period in respect of the Acquisition.