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December 7, 1997updated 03 Sep 2016 7:56pm

IONA WILL SELL SOFTWARE GLUE

By CBR Staff Writer

Iona Technologies Inc is hoping to raise its profile in the US this week when it will detail plans for connecting different types of middleware across an organization. Iona believes the booming middleware business is creating incompatible tiers of software infrastructure within companies and is promising to offer products which will make that software work together. Iona claims that as it moves further up the technology value chain from its object technology beginnings it is attracting the attention of more CIOs of large corporations which in turn has been noticed by the Wall Street investment community which it will be courting next week. Investment bank Deutsche Morgan Grenfell Inc’s technology group has already initiated coverage of Iona’s stock in its share-watch services and other securities houses are expected to follow suit shortly. Iona’s set to win a listing on the Irish stock exchange by the end of the year following its Nasdaq listing back in March. Iona, now worth close to $400m, is sitting on a $60m cash pile but says it will only buy-in technologies or make acquisitions that are non-dilutive to its earnings, believing its profitable financial track record to be one of its key attractions to potential customers.

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