Lehman advises Iona on strategy

IONA TECHNOLOGIES PLC, the Irish maker of software that allows companies to integrate their computer networks, hired Lehman Brothers Inc to advise it on strategic alternatives for the business including a possible merger or sale.

There is no assurance this will result in a transaction, the Dublin-based company said yesterday.

Iona rose the most in more than three years on February 8 after saying it received a takeover approach. Possible bidders include Germany’s Software AG, US-based Oracle Corp and Progress Software Corp, Goodbody Stockbrokers analyst Gerry Hennigan said.