Raytheon Uses Verity's Data Discovery Program to Organize Intranet Data
SUNNYVALE, Calif - 2004-02-09 - Verity Inc. (NASDAQ: VRTY), a leading provider of enterprise software that helps organizations maximize the return on their intellectual capital investment, today announced that the Raytheon Company (NYSE: RTN), has utilized the Verity Data Discovery Program to optimize organization of its intranet information.
Raytheon, an industry leader in defense, developed an Information & Knowledge Management Plan to help organize the enormous amount of data on its intranet and make it readily available to its more than 78,000 employees worldwide.
Raytheon uses Verity's Data Discovery Program to analyze information in its various repositories across the enterprise as part of the company's deployment of Verity search and classification technologies. The analysis, which leverages Verity's pre-structured industry-standard taxonomies and the Verity K2 Enterprise Thematic Mapping capability, has helped establish an Information Model and set of custom taxonomies - making it easier for employees to find and use company information.
"We are pleased to contribute to Raytheon's Information and Knowledge Management program with the Verity Data Discovery Program," said Sunil D. Nagdev, senior vice president of professional services at Verity. "Verity's technology will enable Raytheon to fully leverage its most valuable competitive advantage - its information."
About Raytheon
Raytheon Company, with 2003 sales of $18.1 billion, is an industry leader in defense and government electronics, space, information technology, technical services, and business and special mission aircraft. With headquarters in Waltham, Mass., Raytheon employs 78,000 people worldwide.
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.
This press release contains forward-looking statements relating to Verity and the expected benefits Raytheon will receive from utilizing the Verity Data Discovery Program. Actual results are subject to risks and uncertainties, including the risk that integration of the Verity software into Raytheon's Information and Knowledge Management program will not perform as anticipated as a result of unforeseen technical difficulties. 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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