News
Iona Acquires Netfish Technologies
- By Scott Bekker
- 02/15/2001
Iona Technologies, an
e-business platform provider, announced it has signed a definitive agreement to
acquire
Netfish Technologies Inc., a
provider of XML-based business-to-business integration solutions. The deal is
worth approximately $270 million.
The transaction is subject to the approval of shareholders
of both companies, as well as customary regulatory and other conditions, and is
expected to close in the second quarter.
Iona’s enterprise integration offerings enable companies to
develop and integrate software applications from the mainframe to the Web.
Netfish Technologies’ XML-based solutions enable companies to extend enterprise
applications and business processes securely over the Internet to establish
connections with partners, customers, and suppliers.
“The combination of Iona and Netfish will provide customers
with benefits that extend far beyond other offerings in the market,” said Ravi
Iyer, CEO of Netfish. “Because the technologies are so complementary, it
provides customers with a comprehensive solution for all of their e-business
needs.”
Netfish’s flagship product is the Netfish XDI Product Suite,
a business-to-business integration platform that integrates diverse business
systems and controls to manage cross-enterprise information exchange. The XDI
Product Suite automates shared business processes in a workflow-driven,
collaborative, real-time fashion, and provides services such as security,
exception handling, and acknowledgements.
Under the acquisition agreement, Netfish CEO Ravi Iyer will become
Iona’s executive vice president of market development, reporting to current
Iona CEO Barry Morris. – Isaac Slepner
About the Author
Scott Bekker is editor in chief of Redmond Channel Partner magazine.