Software AG will not buy Iona

GERMANY’S Software will not buy loss-making Irish software maker Iona Technologies, Software’s chief financial officer Arnd Zinnhardt told Reuters yesterday.

“We will not buy them,” Zinnhardt said on the fringes of an investment conference in Frankfurt. “Why should we?” he added, saying that the only part of Iona where sales were growing made no profit.

Britain’s Sunday Times had reported that Iona’s advisers had drawn up a shortlist of bidders led by Software, Germany’s second-biggest software firm after SAP.