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Autonomy to buy Interwoven for $775 million
Autonomy, an infrastructure software vendor, and Interwoven, a content management vendor, say combining their technologies will redefine how businesses analyze and manage information.
Managing Editor, International Research
Interwoven Inc., a content management services vendor for e-retailer and other businesses, has announced a definitive agreement to be acquired by Autonomy Corp. plc, an infrastructure software company, for $16.20 in cash per share for a total transaction value of approximately $775 million. The transaction is expected to close by Q2 2009.
The combination will redefine how large corporations, law firms and government regulators discover, analyze and manage information, the companies say.
“Interwoven and Autonomy share the same vision for improving the way organizations understand and interact with information,” says Joe Cowan, CEO of Interwoven. “We are excited with the unique possibilities for future product direction that will arise through the integration with Autonomy’s technology.”
An Interwoven competitor, however, views the acquisition as beneficial to the competition.
“We see this as a fantastic opportunity,” says Yogesh Gupta, president and CEO of FatWire Software Corp., a web experience and content management solutions company. “Autonomy has stated in the press the main focus for the acquisition is the legal and compliance side of Interwoven’s offerings. Thus it is unlikely that the web business will receive much further investment inside the larger organization.”
Interwoven reported total revenue of $69.8 million for the fourth quarter of 2008, an increase of 11% from total sales of $62.9 million a year earlier. For the year ended December 31, 2008, Interwoven reported total revenue of $260.3 million, an increase of 15% from total revenue of $225.7 million for 2007.