Factiva and Verity Partner to Improve Global Enterprises' Intellectual Capital Management
SUNNYVALE, Calif., and NEW YORK - 2003-10-28 - Factiva™, a Dow Jones and Reuters Company, and Verity Inc. (NASDAQ: VRTY), today announced an agreement that will help global enterprise customers to effectively and easily organize their intellectual capital assets.
The companies will jointly offer enterprise customers the opportunity to integrate a set of Factiva's industry-specific taxonomies with Verity's intellectual capital management software, K2 Enterprise. In addition, customers can gain access to Factiva's global collection of nearly 8,000 content sources, and engage the taxonomy and technical experts of Factiva Client Solutions.
Under the terms of the partnership, Factiva will offer its content and taxonomy expertise, including strategy and implementation -- adaptable to the specific needs and rules of an organization - for use with Verity's flagship intellectual capital management solution, K2 Enterprise. Factiva will offer its established general business taxonomy for companies, industries, regions and subjects, as well as its recently announced specialized pharmaceutical and healthcare taxonomy. Factiva Client Solutions, including its taxonomy specialists, will now be available to assist with Verity implementations.
"The combination of Factiva's taxonomy expertise, content, and client services with Verity's K2 Enterprise solution will give our joint customers a serious competitive advantage in their marketplace," said Clare Hart, president and CEO of Factiva. "Integrating one of Factiva's industry-specific taxonomies with Verity's comprehensive classification tools will add significant value to an enterprise's search and content organization."
Verity K2 Enterprise enables global organizations of all sizes to identify, manage and utilize the information contained in their digital and human assets to realize competitive advantages such as increased productivity, shortened business cycles, and expanded sales and revenue. It fully integrates search, classification and personalization capabilities for enterprise portals to uncover vast amounts of information and data residing in both internal and external repositories. K2 Enterprise is a fault-tolerant, highly scalable solution that delivers a host of other advanced search capabilities, such as adaptive ranking, support for 26 languages, as well as comprehensive gateway support to leading information repositories, including Lotus™ Notes, Microsoft Exchange™, ODBC and Documentum.
Factiva has more than 20 years of experience managing unstructured data, building taxonomies, and implementing custom content solutions for its clients. Each day, Factiva processes, categorizes, and stores over 115,000 articles in multiple formats and languages. Its content archive includes more than 200 million documents, all consistently categorized to a complex taxonomy, enabling Factiva to deliver targeted and personalized information to nearly 1.6 million paying subscribers in information-intensive organizations around the world.
"We believe that a pure automatic approach is not the optimal solution for solving an enterprise's content categorization challenges due to the ever-changing dynamic nature of enterprise data. Business portals do not operate in a box. Flexibility and expertise are key," said Anthony J. Bettencourt, Verity's president and CEO. "This partnership will provide our K2 Enterprise customers the flexibility to expand the content organization capabilities in their application by using Verity's comprehensive classification technologies with Factiva's taxonomies and concept definitions that have been built, tested and fine-tuned by highly respected taxonomy experts."
About Factiva
Factiva™, a Dow Jones & Reuters Company, provides world-class global content, including Dow Jones and Reuters newswires and The Wall Street Journal - unduplicated in a single service elsewhere. Factiva offers the only single content solution with multiple language interfaces and multilingual content covering nearly 8,000 sources.
Factiva's products and services help companies integrate news and business information into their daily workflow to increase organizational intelligence and leverage external and internal content within the knowledge management function. Factiva's content management and integration services are used by leading organizations around the world.
Built on industry standards and open architecture, Factiva products deliver flexible, extensible, customizable solutions to enable easy integration and use in the enterprise. Editorial and technical consulting, taxonomy application, integration expertise and e-learning programs reflect Factiva's innovative approach to delivering solutions beyond the content.
For more information visit: www.factiva.com/press.
About Verity
Headquartered in Sunnyvale, Calif., Verity provides software solutions that help organizations maximize the return on their intellectual capital investment by utilizing Verity's industry-leading enterprise search, classification and personalization technologies. Verity software is used for sharing information within and between enterprises; for facilitating e-commerce sales; and for B2B activities on Web-based market exchanges. In addition, Verity technology serves as a core component of many leading e-business applications.
Verity products are used by more than 3,500 organizations in the private and public sectors. Customers include Adobe Systems, AT&T, Bristol-Myers Squibb, Cap Gemini Ernst & Young, Cisco, Documentum, Dow Jones, EDGAR Online, Financial Times, H-P, Home Depot, Lotus, META Group, SAP, Siemens, Stellent, Sybase, Time New Media and Timex.
The statements in this press release regarding the benefits that Verity expects its enterprise customers will receive from Verity's new partnership with Factiva are forward-looking statements. These statements are subject to risks and uncertainties, including the risk that: the benefits may not be obtained due to technical or other reasons; and the structure of certain customers' organizations may not be conducive to realizing on these benefits. These and other risks relating to Verity and its business and products are set forth under the caption "Risk Factors" in Item 1 of Verity's latest Form 10-K filed with the Securities and Exchange Commission.
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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