Open Market Partners With Autonomy To Provide Advanced Personalization For E-Business
BURLINGTON, Mass. - November 17, 1999 - Open Market, Inc. (NASDAQ: OMKT), the market share leader in Internet commerce software, today announced that it will embed Autonomy's technology into its newly integrated IPS content management application and Transact commerce management systems. With Autonomy's advanced pattern recognition technology, Open Market customers will be able to provide advanced levels of personalization that will attract and retain online consumers.
In addition to providing advanced personalization, Autonomy's technology automates a broad range of otherwise labor-intensive tasks. That's because Autonomy's technology can automatically identify and rank the main ideas in a piece of text, regardless of its language. These tasks range from categorizing information, to inserting hypertext links to related material, to profiling users based on the information they read and submit to an e-business site, to delivering information to those most likely to be interested.
Open Market CEO Gary Eichhorn stressed the advantages of licensing Autonomy's software. "Open Market already offers its customers some of the most powerful technology available for content and commerce management. By adding Autonomy's technology to our offering, our customers will be able to personalize splash pages to attract specific individuals, offer personalized news reports with real-time alerts, and route and respond to customer inquiries - all automatically," said Eichhorn. "In addition, Open Market customers can add stickiness to their site by creating communities of interest and add value to advertisers by targeting ads and promotions to those individuals most likely to be intrigued."
Eichhorn explained that many vendors may claim that they are offering personalization, but at best it's a form of crude customization. "Most systems force users to choose from a pre-selected menu of topics. These categories tend to be very general, which means you can't get the same level of granularity that you can with Autonomy," said Eichhorn. "With Autonomy's advanced pattern recognition technology, a user interested in men's outerwear in the North East Region of the United States can set up a report to track that specific subject. The user will automatically receive an article about the shortage of men's leather coats in Vermont and the growing demand for polar fleece jackets in New Hampshire. On other sites, he would have to choose from preset categories like 'apparel' or 'leather coats' or wade through the results of inaccurate keyword searches."
Autonomy CEO Mike Lynch further explained that Autonomy's technology was designed to expertly manage and deliver information and commerce services online. "By using Autonomy's technology to completely automate some of the most labor-intensive tasks associated with e-business Web sites, Open Market customers will be able to deliver personalized content without having to hire additional staff to categorize, tag, link and personalize vast volumes of content."
About Autonomy, Inc.
Autonomy's technology powers large-scale, personalized solutions for knowledge management, enterprise portals, new media publishing and electronic commerce. Because of its ability to analyze any piece of text (independent of the document's language) and identify and rank the main ideas, Autonomy can automate a broad range of otherwise labor intensive tasks. These range from categorizing information by subject matter, to inserting hypertext links to related material, to profiling users based on the ideas in the text they read or write, to delivering information to those most likely to be interested.
Autonomy (EASDAQ:AUTN) was founded in 1996 and has offices in Boston, Chicago, Dallas, San Francisco, New York and Washington, D.C in the United States and European/Asia Pacific offices in Amsterdam, Brussels, Cambridge, Frankfurt, Milan, Paris, Oslo and Sydney.
Among its 160-plus customers are Alcatel, Associated Press, Barclays Bank, British Aerospace, Clorox, News Corp., Procter & Gamble, Lucent Technologies, Merrill Lynch, SF Gate, Semi-tech, The Royal Mail, Unilever and Xoom.com. In addition, several software companies are licensing Autonomy's technology to add intelligence to their online publishing, knowledge management, email routing and document management applications, including Aeneid, CoreChange, Delano, FutureTense, Hyperwave, Insight, Intraspect, Global Recall, Nexor, Open Market, Sagemaker and Verge.
On July 10, 1998, the company went public on the EASDAQ exchange.By October 7, 1999, it had achieved a market capitalization of more than $750 million.
For further information, please contact Autonomy at (415) 243-9955 or visit the company's website at http://www.autonomy.com/. Press and analysts may contact Marivi Lerdo or Kris Marubio at Edelman Public Relations, ph: (415) 433-5381.
About Open Market
Founded in 1994, Open Market, Inc. (NASDAQ: OMKT) is the market-share leader in Internet commerce software with more than 30,000 merchant licenses sold worldwide and over 12,000 in production. Open Market offers an integrated set of open, scaleable applications that enable enterprises to move their businesses to the Web. Open Market's products enable companies to build dynamic, personalized, revenue generating Web sites that are cost effective, easy to manage and quickly adapt to changing business requirements. Among Open Market's distinguished roster of global customers are many of the most popular domains on the Web, including Lycos.com, AOL.com, and the Wall Street Journal Interactive Edition; major industrials such as Acer, Ingram Micro, Milacron, and Siemens; and 10 of the world's top 13 national telephone companies. Open Market's content management software is used by companies including Lucent Technologies, Financial Times of London, Hitachi, and Chase Manhattan Bank. The company, headquartered in Burlington, Massachusetts, has a presence in 30 countries. Open Market's international head office is in the UK with additional offices in Australia, Canada, France, Germany, Italy, Japan and The Netherlands. Open Market can be reached by calling 1-888-OPEN-MKT (toll-free) or 1-781-359-3000 in the U.S. or +44 (0)1753 838 000 in the U.K. or by visiting http://www.openmarket.com/.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the company's limited operating history, the Company's ability to integrate FutureTense in its operations, delays in product development, development of the Internet market, changes in product pricing policies, competitive pressures, and the risk factors detailed from time to time in the company's periodic reports and registration statements filed with the Securities and Exchange Commission.
Open Market, Transact, IPS, ShopSite, and FutureTense are trademarks or registered trademarks of Open Market, Inc. in the United States and other countries. All other names are used for identification purposes only and may be trademarks of their respective owners.
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