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Print Edition StoriesTuesday, December 30, 2008
Progress Software rings Nasdaq’s bell
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Progress Software Corp. officials Rick Reidy, chief operating officer; Bud Robertson, senior vice president finance and administration and chief financial officer; and Ken Rugg, general manager and vice president of Integration Infrastructure products rang the opening Nasdaq bell this morning.
At the broadcast studio at Nasdaq MarketSite in New York City, Bedford-based Progress Software officials celebrated being traded on the Nasdaq since 1991 by presiding over the opening bell ceremony.
In September, Progress Software completed the acquisition of IONA Technologies PLC in a deal worth about $162 million that was initially announced in June. Progress Software (Nasdaq: PRGS), a supplier of application infrastructure software, agreed to pay $4.05 per share for Ireland-based IONA (Nasdaq: IONA), a supplier of software integration technology.
The acquisition is valued at about $107 million net of cash and marketable securities reported on March 31, company officials said. IONA has become an indirect division of Progress Software.
In June, Progress Software bought web software services firm Mindreef Inc., based in Hollis, N.H., for an undisclosed amount.
For fiscal 2008, Progress Software reported a profit of $46 million, on revenue of $515.5 million.
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