SAN FRANCISCO, CA, November 30, 1998 - Autonomy, Inc. (Easdaq: AUTN), the leading provider of content management solutions for the New Media and Knowledge Management markets, today announced its decision to invest in the San Francisco-based start-up Verge Software Corporation, a provider of enterprise knowledge productivity applications. In turn, Autonomy has gained distribution rights to Verge's software in the United Kingdom and in Europe.
The investment places Autonomy on an impressive list of investors in Verge, which includes WS Investments, Lamoreaux Partners, Stan Meresman (former Chief Financial Officer of Silicon Graphics), Dave Peterschmidt (President and Chief Executive Officer of Inktomi Corporation), Mark Jung (former Chief Executive Officer of Worldtalk Corporation) and Mario Rosati (Partner at Wilson Sonsini Goodrich & Rosati).
Autonomy's investment builds upon a relationship that started in mid-1997, when Verge licensed Autonomy's advanced pattern recognition technology to automate the categorization, hyperlinking, and personalization of large volumes of information within Verge's knowledge management productivity application.
"Our decision to invest in Verge allows us to participate in one of Silicon Valley's most dynamic start-ups in both a financial and technical capacity. We're confident that Autonomy's investment in Verge Software and our ability to distribute Verge's software in the UK and Europe will serve to broaden and strengthen our appeal to customers in the New Media and Knowledge Management markets," says Dr. Mike Lynch, Autonomy's CEO.
Verge Software started its initial research and development of knowledge productivity applications in 1994. Its founders set out to solve a fundamental business problem of accessing information in a useful context. Verge aims to enable and empower business professionals to be more productive by leveraging existing expertise and resources within an integrated, context-rich environment that can be shared across a distributed enterprise network. Verge expects to launch its first product, Verge Insight™, in early 1999.
Scott Rozic, CEO of Verge, noted that, "Autonomy has a great core technology and we are pleased to have the opportunity to build on our relationship. We are focused on delivering applications that apply technology to solve key business problems for our customers. We see Autonomy as a strong part of that vision."
Autonomy's Lynch summed up the importance of the investment and the distribution agreement by pointing out that: "This is the company's first strategic investment following Autonomy's recent successful IPO. It offers the ultimate proof of our commitment to Verge as one of the most intriguing start-ups and emerging growth companies."
About Autonomy, Inc.
Autonomy develops software that automatically organizes large, unstructured volumes of information into personally relevant data to help corporate intranets and commercial websites serve the changing needs and interests of users. Autonomy's Agentware products for knowledge management and new media publishing save time, labor and money by automatically and precisely targeting, categorizing, hyperlinking, personalizing and searching large volumes of unstructured information.
Autonomy, founded in 1996, is headquartered in San Francisco, California and Cambridge, England. Autonomy customers include News Corp., Reuters, Merrill Lynch, Lucent, MacMillan Publishing, Associated Press, Barclays Bank, Shell International, Semi-Tech, The Royal Mail and Unilever. The company is publicly traded on the EASDAQ exchange under the ticker symbol "AUTN". For more information, visit Autonomy's website at www.autonomy.com.
About Verge Software Corporation
Verge Software Corporation develops knowledge productivity applications for the enterprise, enabling companies to make better decisions, increase productivity and gain a competitive advantage. By establishing intelligent connections between people and information, organizations are able to make information actionable, useful and relevant to their needs. Verge Software Corporation is privately held with notable investors including: WS Investments; Lamoreaux Partners; Stan Meresman, former Chief Financial Officer of Silicon Graphics; Mark Jung, former Chief Executive Officer of Worldtalk Corporation; Dave Peterschmidt, President and Chief Executive Officer of Inktomi Corporation; Mario Rosati, Partner at Wilson Sonsini Goodrich & Rosati; and Gary Ketelsen, former Senior Vice President of Sales for Verity. Meresman, Jung and Rosati are members of the Board of Directors.
For more informatio, please contact:
Dominic Johnson
Autonomy Corporation plc
(415) 243-9955
Steve Edwards
Verge Software Corporation
(415) 896-2123 steve@vergesoft.com
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