Companies to Explore Ways to Share and Advance Technologies, Create Customer Synergies
SUNNYVALE, CA. - 2001-10-16 - Verity, Inc. (Nasdaq: VRTY), a leading provider of infrastructure software that powers enterprise and e-commerce portals and applications, and LexisNexis, the leading global provider of comprehensive, authoritative legal and business information, today announced an expansion of their strategic alliance, taking it beyond a content access arrangement to a multi-faceted collaboration.
The intent of the alliance is to leverage the experience, market-leading technology and world-class customer base of each organization to produce new products, services and marketing opportunities. Factors contributing to the extension of their alliance include a similar approach toward product development, complementary skills and several shared customers.
"We believe this wider-ranging LexisNexis-Verity alliance will enable both companies to expand our market reach, while bringing valuable new benefits to our customers," said Renee Citera, vice president, channel sales at LexisNexis. "We are thrilled to be advancing our relationship with Verity."
"Verity looks forward to collaborating with LexisNexis on a variety of fronts, from investigating technology applications, to devising new ways to help customers improve their technology return on investment through better use and management of internal and external content sources," said Michael D. Mooney, vice president of business development at Verity. "We are excited about the possibilities."
About Verity
Headquartered in Sunnyvale, California, Verity is a leading provider of business portal infrastructure software. Verity software gives businesses a multitude of ways to improve access to vital information and perform a range of e-business operations, while enhancing the end-user experience. Verity-powered business portals, which include corporate portals used for sharing information within an enterprise; e-commerce portals for online selling; and market exchange portals for B2B activities, all provide personalized information to employees, partners, customers and suppliers.
Verity products are used by 80 percent of the Fortune 50 and by more than 1,500 corporations in various markets. Customers include Adobe Systems, American Greetings, AT&T, Cisco, CNET, Compaq, Caps Gemini Ernst & Young, FairMarket, Home Depot, Lotus, SAP, Siemens, Sybase, and Timex. In 2001, Delphi Group named Verity as the market leader in the portal infrastructure software. For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.
About LexisNexis
LexisNexis Group is a leading global provider of information to legal, corporate, government and academic markets, and publishes legal, tax, regulatory and other information. Operating units include Martindale-Hubbell; Matthew Bender, the Butterworths companies in Europe, Asia-Pacific, North America and Africa, Les Editions du Juris-Classeur in France; Abeledo-Perrot in Argentina; Orac in Austria and other leading companies around the world, all members of Reed Elsevier plc. The LexisNexis™ services combine searchable access to over three billion documents from thousands of sources with leading edge systems and tools for managing this content. For more information, please visit www.lexisnexis.com.
This press release contains forward-looking statements relating to Verity and the expected benefits of its expanded relationship with LexisNexis. Actual results are subject to risks and uncertainties, including the risks that the benefits of the alliance might not expand the companies market reach or provide customers' the benefit expected due to a variety of reasons, including as result of current or worsening economic condition. Other risks relating to Verity and its products are set forth in its Form 10-K and other reports filed with the Securities and Exchange Commission upon the caption "Risk Factors."
For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.
Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
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