IONA ACQUIRES C24

Dublin, Ireland & Waltham, Mass. – 6 March 2007

C24 Brings Additional Data Services Capabilities to the Artix Family of Distributed SOA Infrastructure Solutions

IONA® Technologies (NASDAQ: IONA), a world leader in distributed service-oriented architecture (SOA) infrastructure solutions for performance-demanding IT environments, today announced the acquisition of C24, a leading software development firm specializing in data management and transformation technology. C24 is privately held, and financial terms of the transaction were not disclosed.

The all-cash acquisition of C24 brings additional data services capabilities to the Artix™ family of Distributed SOA Infrastructure solutions and expands on an existing agreement that allows IONA to resell C24 technology. Large scale, performance demanding SOA deployments require that data transformation be executed quickly, at runtime, and C24’s solution has been designed and optimized to meet these requirements. In addition, powerful graphical development tools eliminate the need to write code. These C24 capabilities dramatically reduce customer development and ongoing maintenance costs and improve performance. Further, C24 delivers rules-based data validation functionality that helps ensure the integrity of the data used in an SOA deployment. Like IONA’s Artix Enterprise Service Bus (ESB), C24’s data services capabilities are deployed at system endpoints and do not require expensive and inflexible centralized servers to perform data transformations.

“The core philosophy of standards-based, distributed computing has been embraced by C24, and consequently the company’s technology is very much in line with that of IONA and Artix. This acquisition is a natural extension of how we enable our customers to generate greater ROI from their existing and future IT assets and reduce their fixed cost of IT ownership,” said Peter Zotto, CEO, IONA. “This acquisition expands IONA’s ability to provide the products and services our customers need to deploy truly distributed SOA infrastructure solutions, independent of existing platforms, transports, protocols, and now data formats.”

C24’s current market focus is on supporting Global 2000 customers in the financial services industry, historically a strong vertical market for IONA. C24 offers a range of technology solutions, including pre-built message libraries of data services standards driving the financial services industry such as SWIFT, FpML, ISO 20022/UNIFI, SEPA and FIX. IONA plans to grow the existing data services solutions for the financial services industry and work toward specific solutions for vertical markets such as telecommunications and government in the future.

“Having already worked closely with IONA on customer engagements, we’re excited by the opportunity to take the relationship to this next level and to have our technology become a part of the Artix family,” stated Wayne Meikle, managing director and co-founder, C24. “There are tremendous efficiency benefits for customers deploying distributed SOA using our combined technologies. The ability for customers to have supported industry standard data services libraries; to model and validate data; to transform to and from any legacy data format; and to deploy these data services into a distributed SOA infrastructure is the basis for the next generation of infrastructure integration solutions.”

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