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4/23/2002
02:14 PM
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Interwoven Announces New Content-Management Apps

The new software targets enterprise portals, collaborative document management, and Web applications.

Struggling content-management vendor Interwoven Inc. on Tuesday announced the launch of three new collaborative applications. The new software targets enterprise portals, Web applications, and document management.

The releases include TeamPortal, available in the second quarter of the year, which lets groups of users create, modify, test, and publish content to a corporate portal. TeamDoc, a document management and sharing tool, will let enterprise users share, find, and approve documents through a collaborative browser-based workspace. Finally, TeamCode lets groups of developers build and manage Web applications, services, and portlets. TeamDoc and TeamCode will be available in the third quarter. Prices for the new software haven't been set.

The launch comes at a difficult time for Interwoven, which has been struggling to find customers and has seen revenue shrink dramatically over the last year. Just last week, the company posted revenue down 46% from the same quarter of 2001, the result of a 61% drop in software licenses. Meanwhile, competitors such as Documentum Inc. have seen their sales improve over the same period. Rumors have begun to circulate over whether Interwoven might come up for sale.

SoundView Technology Group analyst Gary Spivak says Interwoven's been hit hard by the IT spending slowdown, but he expects good demand for the new products. "I think it's going to give them the ability to target the points of pain that enterprises are feeling, like managing code, and managing portals," he says. But at this point, Interwoven will need more than demand for its software to turn things around. "This is a step in the right direction, but it doesn't make the competitive environment any easier," he says. "They still need a bounce in the economy for them to get back on track."

Interwoven CEO Martin Brauns says the company isn't counting on the new software "at all" to reverse the company's fortunes. New products often give businesses a false hope for quick and painless turnarounds, he says. "So we haven't fantasized," says Brauns. "Our new guidance is very sober, and very realistic."

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