Ireland-based Iona Technologies will buy US software company Watershed Technologies for $13.2m (£8.3m) to boost its forthcoming web portal software.
Watershed's Java and XML technology and services will be incorporated into Iona's portal software, which helps companies build ebusiness sites.
"Enterprise portals are essential to helping Global 2000 companies become ebusinesses," said Iona chief executive Chris Horn.
Watershed was set up in January 1993 as a software development and consulting services company and launched its first product, an object-oriented data visualisation program called Graphright, six months later.
Established in 1991, Iona was named one of the 10 fastest growing companies in Europe by Time Magazine in January. The company recently received an undisclosed investment from the Intel 64 Fund, which pumps money into emerging technologies based on Intel's IA64 architecture.
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