Leading Analyst Firms Laud Autonomy's Acquisition of Virage
AMR Research, Delphi Group and Giga Research Note Deal That Strengthens Autonomy's Leadership in Enterprise Information Infrastructure Market
SAN FRANCISCO, Calif, July 30, 2003-Autonomy Corporation plc (Nasdaq: AUTN; Nasdaq Europe: AUTN; LSE: AU.), a leading provider of infrastructure software for the enterprise, today announced that it was recognized by leading analyst firms AMR Research, Delphi Group and Giga Research for its strategic acquisition of Virage, Inc. (Nasdaq-SCM: VRGE), a leading provider of video and rich media communication software. The analysts applaud the acquisition for expanding Autonomy's information management capabilities.
For instance, in the AMR Research Alert, "Autonomy Thinks Ahead: Acquires Virage," July 16, 2003, Senior Research Analyst Jim Murphy stated: "Enterprises would do well to investigate the application of innovative technologies and cutting-edge approaches to accomplishing their business needs… A company that never fails to impress us with its own innovation, Autonomy will now count on its customers to embrace innovative technologies."
In a Delphi Group NewsFlash, "Autonomy to Acquire Virage," July 10, 2003, Research Director, Hadley Reynolds, noted that the acquisition allows Autonomy to leverage their Dremedia audio and video analysis capabilities in Virage's truly capable rich media management environment, as well as give Autonomy additional applications to add to their recent Audentify call center and Aungate compliance divisions.
Meanwhile, Vice President, Collaboration and Knowledge Management, Daniel Rasmus, in a Giga Research IdeaByte, "Autonomy's Buy of Virage is Picture Perfect," July 22, 2003, stated: "The acquisition is positive for Autonomy because it will allow the company to expand its universal repository integration capabilities, and is even more important to Virage customers, who will eventually be able to take advantage of the integration of the video Dremedia technology from Autonomy to supplement the management features of Virage."
"Autonomy delivers the most advanced information infrastructure technology for managing unstructured information including voice and video," said Mike Lynch, CEO and co-founder of Autonomy. "We are pleased to be recognized by top analysts for our transaction with Virage and feel it further validates our approach to data management and our strength as a company with 14 consecutive quarters of profitability."
On July 10, Autonomy announced a definitive agreement to acquire Virage. The transaction enables Autonomy to further extend the adoption of its Intelligent Data Operating Layer (IDOL) as the key infrastructure for the automated management of all forms of unstructured information. Virage will incorporate Autonomy's Dremedia software into its products. By purchasing Virage, Autonomy is gaining a market leading brand and a strong customer base for upsell opportunities. The transaction is currently expected to close in the third quarter of 2003, with the first integrated products available in the quarter subsequent to closing.
Autonomy's unique Intelligent Data Operating Layer (IDOL) integrates unstructured, semi-structured and structured information from multiple repositories through an understanding of their content. Autonomy grants enterprises the flexibility to use advanced information retrieval or legacy-based approaches. At the heart of Autonomy's software is its ability to process text, voice and video and identify and rank the main concepts within them. It then automatically categorizes, links, summarizes, personalizes and delivers that information. Autonomy's technology also drives collaboration across the enterprise and enables organizations to effectively leverage expertise. Autonomy's infrastructure technology is used to automate operations within enterprise information portals, customer relationship management, knowledge management, business intelligence and e-business applications, among others.
About Autonomy
Autonomy Corporation plc (Nasdaq: AUTN; Nasdaq Europe: AUTN; LSE: AU.) is a global leader in infrastructure software for the enterprise. Autonomy's technology powers applications dependent upon unstructured information including customer relationship management, knowledge management, enterprise portals, enterprise resource planning, online publishing and security applications. Autonomy's customer base includes more than 600 global organizations including AstraZeneca, BAE Systems, Ford, Ericsson, Hutchison 3G, the BBC, RoyalSunAlliance, Sun Microsystems and public sector agencies including the US Department of Defense, NASA and the US Department of Energy, as well as the UK Government's Department of Trade and Industry and numerous agencies responsible for homeland security related functions. Strategic reseller and OEM partners include leading companies such as ATG, BEA, Business Objects, Computer Associates, Hewlett Packard, IBM Global Services, Vignette, EDS and Sybase. The company has offices worldwide and is on the Web at www.autonomy.com.
Caution Concerning Forward-Looking Statements
With the exception of historical information, the matters set forth in this news release are forward-looking statements that involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. These factors include, among others, technology risks, including dependence on core technology; fluctuations in quarterly results; dependence on new product development; rapid technological and market change; reliance on sales by others; management of growth; dependence on key personnel; rapid expansion; growth of the Internet; financial risk management; and future growth subject to risks. These factors and other factors, which could cause actual results to differ materially are also discussed in the company's filings with the United States Securities and Exchange Commission, including Autonomy's Annual Report on Form 20-F and Registration Statements on Form F-1.
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