Autonomy Announces Completion Of Acquisition Of Virage
Virage a Wholly-Owned Subsidiary of Autonomy
CAMBRIDGE, UK and SAN MATEO, CA - September 2, 2003 - Autonomy Corporation plc (Nasdaq: AUTN; LSE: AU.; Nasdaq Europe: AUTN), a leading provider of infrastructure software for the enterprise, and Virage, Inc. (Nasdaq-SCM: VRGE), a leading provider of video and rich media communication software, today announced the completion of Autonomy's acquisition of Virage.
"The successful completion of the acquisition reinforces Autonomy's Intelligent Data Operating Layer (IDOL) as the key infrastructure for the automated management of all forms of unstructured information," said Dr. Mike Lynch, CEO of Autonomy. Dr. Lynch continued, "With Autonomy's technology already fully embedded at the core of the Virage products and the corporate integration on track, we believe that Virage will be better able to take advantage of its clear leadership position and new and existing Autonomy and Virage customers should soon gain access to the world's leading technology."
"This transaction has enabled Virage to quickly enhance our product offering and to streamline our operations to enable us to extend our leadership position in the video software market" said Paul G. Lego, Virage Chairman and CEO.
As a result of the merger, which was completed on September 2, 2003, each outstanding share of Virage common stock (other than shares for which appraisal is sought under applicable law) has been converted into the right to receive $1.10 per share in cash. Continental Stock Transfer & Trust Company, the paying agent for the merger plans within the coming week to mail transmittal materials to Virage shareholders as of the merger date. Virage shareholders should not submit share certificates unless accompanied by these transmittal materials.
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, 3, 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.
About Virage
Established in 1995, Virage (Nasdaq-SCM: VRGE) is a leading provider of video and rich media communication software for video production, Internet publishing and webcasting. Virage builds integrated rich media business solutions for corporations, media and entertainment companies, universities and government agencies worldwide. Virage solutions include VS ProductionTM for streamlining of professional video workflow, VS PublishingTM for developing content into compelling Internet programming and VS WebcastingTM for planning and producing interactive, live and on-demand webcasts. The company has more than 400 customers and more than 125 partners. Virage customers include Cisco Systems, Empire Blue Cross Blue Shield, Harvard University, NASCAR, Oracle Corporation, Pfizer, the United States Senate, Xerox and many more. Headquartered in San Mateo, California, Virage has offices throughout the United States and Europe. For more information about the company, its products, and customers, please visit www.virage.com.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties concerning Autonomy's acquisition of Virage, Autonomy's expected financial performance (including without limitation as described in the quotations from management in this press release), as well as Autonomy's strategic and operational plans. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties. The potential risks and uncertainties include, among others, the reaction of customers of Autonomy and Virage to the transaction; Autonomy's ability to successfully integrate Virage's operations and employees; Virage's cash usage through September 30, 2003; and general economic conditions. More information about potential factors that could affect Autonomy's business and financial results is included in Autonomy's Annual Report on Form 20-F for the year ended December 31, 2002, including (without limitation) under the captions, "Risk Factors" and " Operating and Financial Review and Prospects," which is on file with the United States Securities and Exchange Commission (the "SEC") and available at the SEC's website at www.sec.gov. Information regarding conditions to the closing of the transaction will be set forth in a proxy statement that will be filed by Virage with the SEC.
Summary: ...an easy-to-use application, but it just doesn’t make sense if you can’t use it to its maximum potential.” The Benefits of Autonomy Since the TeleForm implementation and its subsequent training session, the center has the internal resources to bid on survey processing projects from other universities...
Summary: ...content, ranging from park conditions to legislative information.” Her aim was to enable staff at those sites to update their own content. The restructure raised the number of websites to be merged from 4 large sites to include an additional 20 smaller sites and several thousand more web pages that...
Summary: ...global strategic business units are consumer and commercial clients, wholesale and private clients and asset management. The company is listed on several stock exchanges, including the London Stock Exchange, the New York Stock Exchange and the Euronext. The Need Today's banking industry faces ever-tougher...
Summary: ...of 60,000 potential skus, Callaway Golf Pre-Owned typically makes available about 5,000 products. More than half of these products carry two or less items in stock, meaning the inventory changes daily. Complicating matters is the incredible depth of the product line. The retailer regularly exposes multiple...
Summary: ...with many large enterprises, EDF Energy had instituted quotas on inboxes to conserve disk space requiring users to constantly manage their inboxes to stay under quota. The choice was theirs: delete potentially important emails or create PST files to store their emails. While the creation of PST files...
Summary: ...Frost Brown Todd LLC - case study. POWER PROMOTE PROTECT Frost Brown Todd LLC Introduction Frost Brown Todd LLC (FBT) provides knowledge and experience across hundreds of industries and practice areas including, corporate mergers, tax law, intellectual property, technology issues, arbitration and litigation....
Summary: ...Case Study: Senator Alan Bible Center for Applied Research. After the demonstration, he quickly made the decision to purchase TeleForm, knowing that the revenue from the nurse practitioners’ project would pay for the application, and give the center an asset to retail. The Solution During the initial...
Summary: ...Arizona State University - Case Study. POWER PROMOTE PROTECT Arizona State University Arizona State University reduced bottlenecks in the graduate admissions process by using Autonomy TeleForm to integrate document capture and workflow. Arizona State University (ASU) is increasingly seeking to recruit...
Summary: ...would forward e-mails to their secretaries to print and fle; now, if an attorney wants something to be fled, he clicks on one Outlook flag to signal that it should be fled electronically.
...
Summary: ...Boston College Case Study. They also sought a cost-effective solution that provided solid reporting and granular control of their configuration. Finding Solutions “We examined all the available online backup services,” says Hatch. From a field of about ten possibilities, they narrowed their search...
Summary: ...PDAs). For certain services in major urban areas, An Post uses PDAs to confirm parcel deliveries. Electronic POD signatures are transmitted instantaneously to head office when a delivery is made. The Inpute system creates an image of the signature and associates the track and trace numbers with the transaction....
Summary: ...services and solutions to the nuclear industry, the United States Government, the Government of the United Kingdom, hospitals and research facilities. EnergySolutions was formed in 2006 by merging BNG America, Duratek, Envirocare of Utah, and the D&D division of Scientech. These acquisitions brought together...
This is a small selection of the Autonomy case studies available, please visit our publications site at http://publications.autonomy.com/ for more information.
Summary: ...and DVR in one powerful package. The system detects and deters fraudulent activity at the point of sale by monitoring user-defi ned transactions such as: Refunds Voids No Sale • • • Discount Keyed Entry Credit Card • • • Separate interfaces are available to allow connection with: Cash registers...
Summary: ...offers managers a powerful tool to protect their assets on and off-site, reducing losses and delivering tangible ROI. EPOS Key Features: Transactions monitored include refunds, voids, no sale, discount, keyed entry and credit cards Up to 16 cash registers per DVR, and can expand to include up to 65,000...
Summary: ...trademarks and the properties of their respective owners. Product specifications and features are subject to change without notice. Use of Autonomy software is under license. [AUTN AUDE] 09.08 Autonomy Inc. One Market, Spear Tower, 19th Floor, San Francisco, CA 94105, USA Tel: +1 415 243 9955 Fax: +1...
Summary: ...Extending SAP with Cardiff Intelligent Documents. The SAP Business Suite is the world’s most widely adopted enterprise application platform with solutions ranging from CRM to ERP to SCM and beyond. This pervasive adoption coupled with the associated IT investment has led organizations to look for ways...
Summary: ...conflicts process and connects into the existing intake processes via Autonomy Process Automation Intelligent Enterprisewide Search Delivers Accurate Results The rise of mergers and acquisitions within firms and within corporations has led to conflicts that may not have been foreseen at the outset of...
Summary: ...beyond the pilot stage and where they have, the business benefits resulting from deployment have not lived up to their promises. It is clear that a better approach is needed if eDRM is to move from being a pressing need for organizations to a technology that is proven and guaranteed to provide the potential...
Summary: ...lower, more predictable cost structures and mitigates risk, while enabling defensible, comprehensive information governance enterprisewide. The Autonomy cloud helps organizations remain agile when disruptions arise, as in the case of mergers and acquisitions when businesses must quickly bring on board...
Summary: ...and transportation. The economic meltdown has triggered unparalleled mergers and acquisitions and unfortunately massive litigation. The FBI has reported dozens of investigations and over 1400 mortgage-fraud cases and shareholder lawsuits nationwide. Many financial institutions are facing these very issues...
Summary: ...document. The ability to reuse previously approved language reduces review and approval times freeing up high value resources and allowing for more business transactions. Key Features Feature What It Does Integrated User Interface Template Manager is seamlessly embedded into Microsoft Word, providing...
Summary: ...that contain privileged client or industry information pose a huge risk should they be sent beyond approved boundaries and should be monitored as closely as possible to marginalize their potential damage. Aungate Real-Time Policy Supervisor addresses this challenge by automatically and proactively applying...
Summary: ...real-time assistance, evaluation, survey, and training modules to ensure that your business delivers true quality performance. Autonomy Qfiniti delivers: • Extensive monitoring functionality with multiple call acquisition options including record-on-demand and live monitor • Intelligent monitoring...
This is a small selection of the Autonomy Product Briefs available, please visit our publications site at http://publications.autonomy.com/ for more information.
Summary: ...FRCP 37(f): What the Heck is Good Faith?. – Legal counsel should meet with the appropriate representatives from Operations/IT to discuss and consider which sources of electronically stored information may contain information potentially relevant to the claim. About the Author Russ Yoshinaka is ZANTAZ’...
Summary: ...IDOL Enterprise Desktop Search White Paper. Profitable for 24 consecutive quarters with cash reserves in excess of $75 million, Autonomy’s organic growth is approximately 20% year-over-year. Autonomy is publicly listed on the London Stock Exchange (AU.). The Autonomy Group includes: Aungate, specialist...
Summary: ...functions, and activities by service providers are exempted from COBS 11.8 . 9 3 COBS 11.8.7 G. http://www.fsa.gov.uk/pubs/hb-releases/rel87/rel87cobs.pdf 4 COBS 11.8.6 R (1) 5 Ibid. 6 See supra Note 1. at 2.34 7 COBS 11.8.1 R (1) 8 COBS 11.8.9 G (1) 9 COBS 11.8.2 and 11.8.3 R Audio Governance and COBS...
Summary: ...respective owners. [WP INTER] 10.03 www.autonomy.com The information contained in this document represents the current view of Autonomy Systems Ltd on the issues discussed as of the date of publication. Because Autonomy must respond to changing market conditions, it should not be interpreted to be a commitment...
Summary: ...properties of their respective owners. [WP AUD/BRO] 10.03 www.autonomy.com The information contained in this document represents the current view of Autonomy Systems Ltd on the issues discussed as of the date of publication. Because Autonomy must respond to changing market conditions, it should not be...
Summary: ...Compliance After the Global Credit Crisis. 26 http://www.nytimes.com/2009/01/16/business/economy/16sec.html?ref=politics 27 Questions from Senator Carl Levin forMary Schapiro, Nominee to be Chair of the Securities and Exchange Commission, http://levin.senate.gov/newsroom/ supporting/2009/PSI.SchapiroResponses.012209.pdf...
Summary: ...The 4 Keys: Core Competencies to Winning the Compliance and Audit Game. Maintain adequate records to provide fair view of organization’s financial condition and publish financial statements that reflect that condition. Reg D: Maintain reserve balances either with their Federal Reserve Bank or as cash...
Summary: ...publication of Autonomy Systems Ltd. regarding the issues discussed. Autonomy's opinion is based upon our review of competitor product information publicly available as of the date of this document. Because Autonomy must respond to changing market conditions, it should not be interpreted to be commitment...
Summary: ...positions at Clearwell Systems, Xerox, and Innovative System Design. Mr. Crespolini earned his JD from Rutgers University, a BS in Actuarial Science from St. John’s University, and holds an MBA in Corporate Finance. Autonomy Inc. and Autonomy Systems Limited are both subsidiaries of Autonomy Corporation...
Summary: ...to meet today’s needs. To be effective, any new system should be language independent, with the ability to manage data across borders while respecting regional regulations and privacy requirements. Mergers and Acquisitions: A single financial institution already has a problem managing disparate systems...
Summary: ...Autonomy Systems Ltd. regarding the issues discussed. Autonomy's opinion is based upon our review of competitor product information publicly available as of the date of this document. Because Autonomy must respond to changing market conditions, it should not be interpreted to be commitment on the part...
Summary: ...as of the date of publication of Autonomy Systems Ltd. regarding the issues discussed. Autonomy's opinion is based upon our review of competitor product information publicly available as of the date of this document. Because Autonomy must respond to changing market conditions, it should not be interpreted...
This is a small selection of the Autonomy White Papers available, please visit our publications site at http://publications.autonomy.com/ for more information.
Related Case Studies
