Interwoven To Acquire Website Optimization Pioneer Optimost
Combination of Interwoven's Content Management Solutions with Optimost's Multivariable Testing and Optimization Solution Helps Organizations Maximize Online Business Performance
SAN JOSE, Calif., - October 17, 2007 - Interwoven, Inc. (NASDAQ: IWOV), a global leader in content management solutions, today announced that it has entered into a definitive agreement to acquire Optimost, a pioneer of software and services for Website optimization. Optimost's innovative solution – delivered via a software-as-a-service model – helps companies with one of their biggest challenges: creating a compelling, engaging, and relevant online experience that delivers measurable business results. Interwoven's acquisition of Optimost will strengthen Interwoven's offerings by adding real-time multivariable testing and Website optimization to its portfolio and enhances Interwoven's recently announced capabilities for delivering targeted content to Website visitors.
Under the terms of the agreement between Optimost and Interwoven, Interwoven will pay approximately $52 million in cash for all outstanding shares of Optimost and assume certain existing employee stock options.
As businesses continue to spend unprecedented amounts to drive traffic to their Websites through search engine marketing, pay-per-click ads, banner ads, e-mail, and other tactics, they face a significant challenge in converting traffic into revenue-generating customers. The combination of Interwoven's content management solutions and Optimost's optimization solution helps businesses address this challenge by providing marketers with the industry's most complete set of capabilities for creating, deploying, testing, analyzing, and optimizing targeted content to Website visitors.
"This acquisition supports our strategy to power our customers' online presence, and we believe it puts Interwoven at the top of the short list of a company's must-have partners for online business," said Joe Cowan, chief executive officer at Interwoven. "Companies today understand that maximizing their online business performance is the key to accelerating growth and profits, and that content is at the core of their online strategy. By acquiring Optimost, we are providing customers with a powerful solution for optimizing their content – which creates the connection point between the visitor and the Web – to provide the most compelling experience, faster, more efficiently, and more effectively than ever before."
Founded in 2001, Optimost is a privately-held company headquartered in New York City, whose customers include Ask.com, Auto Trader, Delta Air Lines, FAO Schwarz, Lenovo, and MGM Mirage. Optimost has a proven track record in helping its clients achieve double-digit increases in conversion rates and online sales. For example, Delta Air Lines made changes to Delta.com based on the results of its multivariable optimization initiative, which has added up to approximately $15 million in additional revenue so far this year.
"Today's announcement is wonderful news for Optimost's customers," said Mark Wachen, chief executive officer at Optimost. "When we founded Optimost, our vision was to deliver technology that allows marketers to increase the effectiveness of their online presence to drive measurable business results. Clearly, Interwoven shares the same vision and by combining forces we will be able to extend our innovative technology to a much larger market and provide Optimost customers with a more complete solution for maximizing their marketing investments. We look forward to joining the team at Interwoven."
While this transaction is expected to be completed in the fourth quarter of 2007, the acquisition is subject to customary closing conditions. Accordingly, Interwoven cannot ensure that the proposed acquisition will be completed in the fourth quarter, or at all.
Conference Call Information Interwoven will host a conference call to discuss the transaction today at 5:00 p.m. (Eastern Standard Time).
Conference Call Details: Date: October 17, 2007 Time: 2:00 p.m. PDT (5:00 p.m. EST) Live Dial-in #: (866) 550-6338 or (347) 284-6930 Replay #: (888) 203-1112 or (719) 457-0820 Pass code: 3297140
The call replay will be available starting on October 17, 2007 at approximately 8:00 p.m. EST for a limited time period.
Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements that are subject to risks, uncertainties and other factors that could be deemed forward-looking statement and could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. For example, statements of timing of closing and market or customer needs are all forward-looking statements. Risks, uncertainties and assumptions include the possibility that the Optimost acquisition does not close or that prior to the closing of the proposed acquisition, the businesses of the companies suffer due to uncertainty; the market for the sale of certain products and services may not develop as expected; that Interwoven is unable to cross-sell Optimost offerings to existing Interwoven customers; lack of market acceptance of Optimost's products and services; failure of the market for content management and optimization software to develop and grow as quickly as expected; delays and difficulties in introducing new products and enhancements to address the needs of specific vertical markets; the introduction of new products or services by competitors that could delay or reduce sales; the impact of world and geopolitical events on sales cycles and transaction closure rates; actual or perceived declining economic conditions that could negatively affect sales and profits; and reduced financial and operational performance arising out of the integration of the business acquired with Interwoven. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Interwoven's results could differ materially from either company's expectations in these statements. Interwoven does not assume any obligation and does not intend to update these forward-looking or other statements in this release.
About Interwoven
Interwoven, Inc. (NASDAQ: IWOV) is a global leader in content management solutions. Interwoven's software and services enable organizations to maximize online business performance and organize, find, and govern business content. Interwoven solutions unlock the value of content by delivering the right content to the right person in the right context at the right time. Over 4,700 of the world's leading companies, professional services firms, and governments have chosen Interwoven, including Airbus, Amnesty International USA, Avaya, BT, Cisco, Citi, Delta Air Lines, DLA Piper, FedEx, Grant Thornton, Hilton Hotels, HKMP LLP, Hong Kong Trade and Development Council, HSBC, LexisNexis, MasterCard, Microsoft, Samsung, Shell, Sky Italia, Qantas Airways, Tesco, Virgin Mobile, and White & Case. A community of over 25,000 developers and over 300 partners enrich and extend Interwoven's offerings. To learn more about Interwoven, please visit www.interwoven.com.
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