Shares in Iona Technologies rose 25 per cent following confirmation from the Dublin-based company today that it has received a takeover offer.
The Irish maker of software, conceived at Dublin's Trinity College in 1983, had seen stock fall 38 per cent in 12 months, giving the company a value of €90.7 million.
Today's confirmation has seen it climb 50 cents to €2.50, its biggest gain since March 2004.
Goodbody Stockbrokers have said possible bidders include Germany's Software AG as well as US-based Oracle and Progress Software.
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"It should be emphasised that the expression of interest is very preliminary and is subject to a number of conditions," the company said.