Interwoven Announces Close of Optimost Acquisition
SAN JOSE, Calif., - November 1, 2007 - Interwoven, Inc. (NASDAQ: IWOV), a global leader in content management solutions, today announced that it has closed the acquisition of privately-held Optimost LLC, a pioneer of software and services for Website optimization. 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.
The acquisition combines Optimost's real-time multivariable testing and Website optimization capabilities with Interwoven's content management solutions to provide marketers with the industry's most complete set of capabilities for creating, deploying, testing, analyzing, and optimizing targeted content to Website visitors.
All Optimost employees, including the founders, Mark Wachen and Lance Lovette, have joined Interwoven and will focus on product innovation, customer support, and the continued acceleration of Interwoven's business in the online marketing arena.
The Optimost solutions are now available through Interwoven as a standalone offering as well as in conjunction with the solutions in Interwoven's portfolio.
Interwoven expects the Optimost acquisition to contribute in the range of $1.5 million to $2.0 million to total revenue during the fourth quarter of 2007, subsequent to the acquisition date and before considering purchase accounting adjustments to revenues of approximately $1.0 million.
Interwoven announced its intent to acquire Optimost on October 17, 2007. Please visit www.interwoven.com to read the acquisition announcement, as well as additional materials on the news, including a product demonstration, FAQ, podcast, and Website optimization brief.
About Optimost New York-based Optimost is a technology and services company specializing in comprehensive real-time testing and conversion rate marketing. Pioneers in the field of multivariable testing, the firm is able to create and test virtually limitless permutations of copy, offers and layouts in the time it takes to conduct a standard A/B page comparison test. By combining real-life response data with information about which variables were displayed in the test, Optimost clients are able to determine how much each individual website element contributes to the overall response rate. Client web pages can then be optimized further based on the combinations of most positive individual site elements. Optimost clients include: InterActiveCorp, Lillian Vernon, Delta Air Lines, Time Warner, QVC, and EarthLink.
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, the statement about the expected revenue contribution resulting from the Optimost acquisition is a forward-looking statement. Risks, uncertainties and assumptions include the possibility that 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; market acceptance of Optimost's products and services will decline; the market for content management and optimization software fails to develop and grow as quickly as expected; we may have 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 could delay or reduce sales; the impact of world and geopolitical events may lengthen sales cycles and cause transaction closure rates to decline; actual or perceived declining economic conditions 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 its 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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