IONA Technologies has significantly reduced its third quarter loss to $2 million, leaving the software company poised to return to profits by the end of this year.

AN electronics company which is to shut in November with the loss of 200 full-time and 50 part-time jobs, has blamed a global downturn in the sector for the closure of its Athlone plant.

IONA Technologies has announced the appointment of Chris Horn as chief executive officer and of Kevin Melia as chairman, and the resignation of Barry Morris, Steven Fisch, and David James.