DataMirror Corp. is proposing acquiring all the outstanding common shares of Idion Technology Holdings Ltd. "DataMirror intends to offer a cash price of ZAR 65c (Cdn. $0.09) per share, or approximately Cdn. $9.8 million on a fully- diluted basis," says a press release from DataMirror. Idion Technology is a developer of high availability and resiliency software for IBM's iSeries.
Idion Technology consists of two subsidiaries: Idion Solutions, its South African arm based in Johannesburg and Cape Town, and Vision Solutions Inc., headquartered in Irvine, California. Idion acquired Vision Solutions in March 2000.
“We haven’t seen a formal offer yet,” says Corne Arnold, corporate communications director for Idion Technology Holdings. “We have been advised to look at the formal offer and assess before making further announcements.”
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