FileNet Acquires Yaletown To Bolster Compliance Offering
FileNet plans to integrate Yaletown Technology Group's records management technology into the FileNet P8 ECM platform.
FileNet is acquiring Yaletown Technology Group, a maker of records and e-mail warehousing technology, in an all-cash transaction.
FileNet, Costa Mesa, Calif., unveiled the acquisition Monday at the 50th annual ARMA conference on records and information management in Chicago.
The acquisition of Yaletown, Vancouver, B.C., will give FileNet new compliance-related technology and expertise and help strengthen FileNet's records management and e-mail management offerings, FileNet said.
In a statement, FileNet CEO and Chairman Lee Roberts said that Yaletown is a natural extension for FileNet as it continues to expand its offerings in the regulatory compliance space.
"As much as 80 percent of a company's content assets remain unmanaged and uncontrolled by electronic records management systems, we believe the integration of Yaletown Technology Group's records management technology into the FileNet P8 ECM platform can position us as a leader in this growing market," Roberts said.
Yaletown brings to FileNet its Records Crawler technology. Records Crawler works with FileNet P8's records and e-mail management suites to examine documents according to pre-set business rules, FileNet officials said.
The two companies are no strangers to each other. A year ago, they signed a joint OEM agreement under which FileNet embedded Yaletown's e-mail & Correspondence Warehouse products into its P8 records management solution. Yaletown also implements FileNet's P8 solution with its offering in its own customer base.
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