Autonomy Acquires Interwoven For $775 Million - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Software // Social

Autonomy Acquires Interwoven For $775 Million

The combined company will become the largest in the legal information management industry.

In a move to beef up its enterprise and compliance search capabilities, Autonomy will acquire Interwoven for $775 million.

Autonomy said in its announcement Thursday that the combined company will become the largest in the legal information management industry, with more than 20,000 customers, including the top 1,200 largest law firms.

The acquisition will give Autonomy access to Interwoven's customer base of leading U.S.-based law firms. Law firms are treading through a wave of new work resulting from the surge in litigation following the 2007 passage of the U.S. Federal Rules of Civil Procedure and other recent regulatory and compliance measures.

The U.K.-based Autonomy has been making inroads into U.S. markets in recent years, based in large part on acquisitions. The company said the Interwoven acquisition will accelerate delivery of advance unstructured information management software and will enable the combined company to more quickly and efficiently search across "the chain of the client and the law firm. The acquisition also allows us to extend Autonomy's value chain of discovery, review, processing, early case assessment, linking those to the operations within the law firms."

The acquisition, which Autonomy expects will be consummated in the second quarter, will combine its intelligent data operating layer product, which seeks to understand content, and Interwoven's product suite, which is focused on managing interactions between individuals and content. The combination is expected to significantly reduce the amount of manual effort now required by the firms.

"Interwoven's products know what the customer interactions are," Autonomy stated, "and Autonomy's IDOL will allow them to know what they mean."

The new Federal Rules of Civil Procedure has created a flood of content volume between clients and law firms, which must be properly processed. In effect, the new company creates one-stop shopping covering more than 1,000 file formats, including e-mail, voice, Internet, images, schedules, tasks, calendars, and stock trades. Interwoven's products and services will enable Autonomy to spread them across more than 100,000 corporate Web sites, intranets, and extranets.

Autonomy noted that its offer of $16.20 in cash for Interwoven represents a premium of nearly 37% over Interwoven's previous closing share price. Autonomy said the directors of both companies have agreed to the acquisition.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
Slideshows
9 Steps Toward Ethical AI
Cynthia Harvey, Freelance Journalist, InformationWeek,  5/15/2019
Commentary
How to Assess Digital Transformation Efforts
Lisa Morgan, Freelance Writer,  5/14/2019
Commentary
Is AutoML the Answer to the Data Science Skills Shortage?
Guest Commentary, Guest Commentary,  5/10/2019
White Papers
Register for InformationWeek Newsletters
Video
Current Issue
A New World of IT Management in 2019
This IT Trend Report highlights how several years of developments in technology and business strategies have led to a subsequent wave of changes in the role of an IT organization, how CIOs and other IT leaders approach management, in addition to the jobs of many IT professionals up and down the org chart.
Slideshows
Flash Poll