Next-Generation Technology Provides Customers with Fast, Accurate Content Search and Retrieval Capabilities
COSTA MESA and SUNNYVALE, Calif. - 2002-04-30 - FileNET Corporation (Nasdaq: FILE), the leading provider of Enterprise Content Management (ECM) solutions, today announced a software license agreement with Verity, Inc. (Nasdaq: VRTY) to integrate Verity's market-leading search technology into FileNET's extended ECM product family. The advanced search capability provided by Verity's new K2 Developer software will give FileNET customers the ability to more quickly and accurately retrieve cataloged information that may reside across disparate IT systems and data warehouses. The agreement with Verity further reinforces FileNET's extended ECM strategy and vision, which provides the industry's leading single source of best-of-breed solutions to manage and optimize the exponential growth in digital assets and content across the enterprise.
Advanced search technology is crucial for efficiently managing the expanding volume of electronic content throughout the enterprise. The majority of businesses today have many content repositories housing millions of electronic files. Search technologies provide the means to search, navigate, select and view business critical information quickly and easily.
"Our partnership with Verity is another major milestone in our strategy to offer our customers the most compelling and extended suite of solutions available to meet their ECM requirements," said Michael W. Harris, senior vice president, Products & Strategy for FileNET. "As we execute on our extended ECM strategy, we are continually assessing our customers' requirements to ensure FileNET technology platforms not only meet their business needs today, but also meet their future requirements."
Gartner Group, an industry leading market analyst firm, has recognized Verity as a leading visionary in Gartner's 2002 Enterprise Search Magic Quadrant. The company's new K2 Developer includes advanced features such as relevancy ranking, cross-repository and parametric selection. These advanced and optimized search technologies ensure accurate and defined search results. As a result, customers benefit by being able to maximize the value of their digital assets, wherever they may reside, by effectively managing the delivery of business critical content to users.
A key factor in FileNET's decision to partner with Verity was K2 Developer's sophisticated capabilities in addressing the search and retrieval of Extensible Markup Language (XML) documents. XML is a standard programming language that provides a common way to query data by key characteristics known as "metatags." As more companies extend their business processes to incorporate external suppliers, customers and partners, XML is fast becoming the de-facto standard for digital information exchange.
"K2 Developer provides FileNET with a next generation software capability that extends their vision in enterprise content management," said Mike Mooney, vice president, North American sales and business development for Verity. "K2 Developer's ability to accurately search and classify a wide range of content, including XML, makes it an ideal solution for enhancing the functionality and core strengths already built into the FileNET product lines."
FileNET's extended ECM solution is unmatched in the industry and includes Web content management, business process management, Web asset management, enterprise application integration, eBusiness frameworks, document management, image management, and vertical applications.
FileNET will introduce Verity K2 Developer into its Panagon™ Content Services platform and Brightspire™ eBusiness Framework platform before the end of 2002.
About FileNET
FileNET Corporation (NASDAQ: FILE) provides The Substance Behind eBusinessTM by delivering Enterprise Content Management solutions that enable organizations to realize increased productivity, customer satisfaction, and profitability by empowering customers, business partners, suppliers, and employees to engage in business processes and exchange relevant content.
Headquartered in Costa Mesa, Calif., the company markets its innovative solutions in more than 90 countries through its own global sales, professional services, and support organizations, as well as via its ValueNET® Partner network of resellers, system integrators, and application developers. To put more substance into your eBusiness, visit FileNET's Web site at www.FileNET.com or call 1-800-FileNET.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:This release may contain forward-looking statements that involve risks and uncertainties. Words such as "anticipates," "expects," "intends," "plans," "believes," "may," "will" and similar expressions are intended to identify forward-looking statements. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are FileNET's ability to develop, complete, introduce, market, distribute and gain market acceptance for its products and technologies in a timely manner; announcements of technological innovations, new products or product enhancements by FileNET or its competitors; general market conditions; and other factors detailed in the FileNET's filings with the Securities and Exchange Commission, including its recent filings on Forms 10-K and 10-Q."
Note to Editors: FileNET and ValueNET are registered trademarks of FileNET Corporation. Panagon, Brightspire and "The Substance Behind eBusiness" are trademarks of FileNET Corporation. All other named products mentioned in this release may have been identified by trademarks or trademarks of their respective holders.
About Verity
Headquartered in Sunnyvale, Calif., 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.
This press release contains forward-looking statements relating to Verity and the expected performance of its Verity K2 Developer in FileNET's Panagon™ and Brightspire™ technology platforms. Actual results are subject to risks and uncertainties including the risk that integration of Verity K2 Developer in FileNET's Panagon and Brightspire technology platforms will be delayed or not occur, or not perform as anticipated, as a result of unforeseen technical difficulties. Risks relating to Verity and its products are set forth in its Form 10-K and other reports filed with the United States Securities and Exchange Commission under 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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