Interwoven Announces Definitive Agreement to be Acquired by Autonomy
Interwoven Customers to Benefit from Extension of Autonomy's Meaning-Based Computing into Interwoven's Product Offerings
San Jose, Calif. - January 21, 2009 - Interwoven, Inc. (NASDAQ: IWOV), a global leader in content management solutions, today announced that it has entered into a definitive agreement to be acquired by Autonomy Corporation plc (LSE: AU. or AU.L), a global leader in infrastructure software, for $16.20 in cash per share for a total transaction value of approximately $775 million.
Interwoven's products improve human interactions with information, and Autonomy's technology will allow people to know what those human interactions mean. The combination of these two companies will redefine how global 2000 corporations, leading law firms, and government regulators will discover, analyze, and manage human friendly information.
"Interwoven and Autonomy are two high-performing companies that share the same vision for improving the way organizations understand and interact with information," said Joe Cowan, Interwoven CEO. "We believe customers will benefit from the combination of Autonomy's industry-leading technology with Interwoven's unmatched position in our target markets. We are extremely excited with the unique possibilities for future product direction that will arise through the integration with Autonomy's technology."
"The combination of Autonomy and Interwoven, industry leaders in meaning-based computing and document and content management respectively, will continue the extension of Autonomy's Intelligent Data Operating Layer (IDOL) - an information infrastructure that global 2000 companies standardize on to search and process over 1,000 data types," said Dr. Mike Lynch, Group CEO of Autonomy. "Our past acquisitions have clearly demonstrated how Autonomy can quickly and effectively leverage the power of IDOL into new customer bases and to address new customer needs, and we see great opportunities for continued innovation and development of the Interwoven product offerings. We are very familiar with Interwoven, its product base and management team through our joint customers and partnerships over the years and see this transaction as an exciting opportunity to extend the chain of Autonomy's solutions."
Under the terms of the agreement, Interwoven will be acquired by Autonomy for $16.20 per share, in cash, or approximately $775 million in the aggregate. The directors and certain executive officers of Autonomy and Interwoven have agreed to vote the shares they own in favor of the acquisition. The transaction is expected to close by Q2 2009 and is subject to shareholder approval by both companies, Hart-Scott-Rodino antitrust clearance, and other closing conditions.
This release contains forward-looking statements that are based on Interwoven's current expectations relating to the proposed acquisition of Interwoven by Autonomy, including the expected closing of the transaction and the benefits thereof. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. Important factors that may cause such a difference for Interwoven include, but are not limited to, the possible failure to satisfy necessary conditions to closing, the risk that the transaction is not consummated or is not consummated within the expected timeframe and difficulties in integrating the two businesses. For information regarding other related risks, see discussion of risks and other factors in Interwoven's most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and Current Reports on Forms 8-K, which are on file with the Securities and Exchange Commission and available through www.sec.gov.
Additional Information About the Proposed Transaction and Where You Can Find It
In connection with the proposed transaction, Interwoven intends to file a proxy statement and other relevant materials with the Securities and Exchange Commission ("SEC"). BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED TRANSACTION, STOCKHOLDERS OF INTERWOVEN ARE URGED TO READ THE PROXY STATEMENT, WHEN IT BECOMES AVAILABLE, AND THE OTHER RELEVANT MATERIALS FILED BY INTERWOVEN WITH THE SEC BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The proxy statement and the other relevant materials, when available, and any other documents filed by Interwoven with the SEC, may be obtained free of charge at the SEC's website at www.sec.gov. In addition, stockholders of Interwoven may obtain free copies of the documents filed with the SEC by contacting Interwoven Investor Relations at (408) 953-7284 or Interwoven, Inc., 160 E. Tasman Drive, San Jose, California 95134. You may also read and copy any reports, statements and other information filed by Interwoven with the SEC at the SEC public reference room at 100 F Street, N.E. Room 1580, Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 or visit the SEC's website for further information on its public reference room.
Interwoven and its executive officers and directors may be deemed to be participants in the solicitation of proxies from Interwoven stockholders in favor of the proposed transaction. Certain executive officers and directors of Interwoven have interests in the transaction that may differ from the interests of stockholders generally, including without limitation acceleration of vesting of stock options and restricted stock units, benefits conferred under severance and change in control arrangements, and continuation of director and officer insurance and indemnification. These interests will be described in the proxy statement when it becomes available.
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.
Summary: ...and collaborate seamlessly over Solution Overview/Implementing World-Class Practice Support with Interwoven Interwoven, Inc. 160 East Tasman Drive San Jose, CA 95134 USA (408) 774-2000 Copyright 2008 Interwoven, Inc. All rights reserved. Any Resolution, Anywhere, ConfrmSite, Content Network(s), Content...
Summary: ...RJ Hart Case Study. Interwoven Worksite server software provides an architectural framework that allows business content to be centrally managed, shared and collaborated on in a secure manner across the organization. WorkSite enables document management, collaboration, knowledge management, workflow and...
Summary: ...OffSite, OpenDeploy, Optimost, Primera, Scrittura, SmartPublisher, TeamSite, TeamXML, TeamXpress, WorkDocs, WorkPortal, WorkRoute, WorkSite, WorkTeam, the respective taglines, logos and service marks are trademarks of Interwoven, Inc, which may be registered in certain jurisdictions. All other trademarks...
Summary: ...and execution capabilities in local currencies, languages and jurisdictions. About Interwoven Interwoven (NASDAQ: IWOV) is a global leader in content management solutions. Interwoven’s software and services enable organizations to maximize online business performance and organize, fnd, and govern business...
Summary: ...transmitted instantaneously to head office when a delivery is made. The Autonomy solution creates an image of the signature and associates the track and trace numbers with the transaction. The signature images are also stored in the Alchemy document management system. There are approximately 140,000 cards...
Summary: ...materials and reduced product development time. Solution Overview/Driving Growth with Interwoven Interwoven, Inc. 160 East Tasman Drive San Jose, CA 95134 USA (408) 774-2000 Copyright 2008 Interwoven, Inc. All rights reserved.
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Summary: ...over 230,000 documents have been saved in the repository. Reaping the benefts Within a year, Scrutton Bland had seen a full return on their investment in Interwoven WorkSite. In the Ipswich offce, the rooms that had previously been used to house the fling cabinets now seat 10 employees. As Banks explains,...
Summary: ...with email alerts to the person whose signature is required. The Benefits of Autonomy Huynh points to a wide array of productivity and efficiency gains, as well as direct cost savings associated with the new processes. “If a supervisor doesn’t sign off on a form in a certain amount of time, the form...
Summary: ...automated workflow routing, full audit trails and real-time reporting capabilities.” With the Scrittura-powered OTC Transaction Processing System on board, Scotiabank processes approximately 35,0000 transactions for approximately 500-600 customers each year. For added efficiency in processing documents,...
Summary: ...about the proposed project, such as name of principal investigator and funding amount, and gathers approvals from the departments who bear institutional responsibility for complying with the conditions of a grant. Traditionally, ISU faculty and staff entered information pertaining to the proposal data...
Summary: ...the respective taglines, logos and service marks are trademarks of Interwoven, Inc, which may be registered in certain jurisdictions. All other trademarks are owned by their respective owners. cs_korein_tillery_20080609 subfolders. Even in a trial situation, Interwoven WorkSite provides last-minute support:...
Summary: ...Knowledge with Interwoven Interwoven, Inc. 160 East Tasman Drive San Jose, CA 95134 USA (408) 774-2000 Copyright 2008 Interwoven, Inc. All rights reserved. Any Resolution, Anywhere, ConfirmSite, Content Network(s), Content Services SDK, ControlHub, DeskSite, FileSite, iManage, iManage & Design, Interwoven,...
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: ...can be configured to provide real-time alerts to suspicious activities, such as sale of specific items outside certain hours. An example of this might be a transaction containing a small ticket item but with a large cash refund or may be items with large ticket values purchased on certain store cards....
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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: ...Scrittura Overview Brochure: Interwoven's Capital Markets Solutions. n Speed up trading agreement assembly via client-ready contracts from an extensible template library, minimizing the potential for errors or stalls along the way n Control the negotiation process in a truly iterative and collaborative...
Summary: ...text and metadata, but also preserves and intelligently processes all object rules, business intelligence and complex metadata relationships that reside in business applications. KeyView IDOL analyzes relationships between business objects to intelligently propose related actions alongside the result...
Summary: ...m SAP transactions to link incoming documents to Meridio by Barcode; m Document transfer from all appropriate SAP modules; m A more efficient system for storage and retrieval of documents through configuration with Meridio as the Content Server; m Configuration to store certain documents, matching certain...
Summary: ...all appropriate SAP modules • A more efficient system for storage and retrieval of documents through configuration with Autonomy as the Content Server • Configuration to store certain documents, matching certain criteria in a specific archive • SAP documents to be stored in the same repository as...
Summary: ...out of the box connectivity to DTCC Deriv/SERV, ICE eConfirm, SWIFT, EFETNet eliminating operational risk and maintenance costs of custom integrations. Autonomy Systems Ltd. Capital Markets Compliance In challenging times, the only certain factor is the desire for greater control and visibility of information...
Summary: ...Autonomy Social Media Governance - Solution Brief. Policy Based Compliance Autonomy Social Media Governance is a real-time, policy-based compliance and information risk management solution that proactively monitors audio, web and desktop interactions and takes action based on certain triggers. Autonomy’s...
Summary: ...HP Database Archiving software- Data sheet (UK English). Features • Archives data (copy and delete) from production databases directly to a secondary database with commit consistency and transaction integrity • Allows business users to have access to archived data using their native application interface...
Summary: ...Autonomy iManage Workflow Manager. • Powerful visual designer enables business analysts to logically map the business workflow, create forms and simulate processes • Digital signatures for electronically approving transactions • Powerful reporting and monitoring tools to provide greater visibility...
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: ...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: ...The rule applies to a firm7 : • Receiving, executing, or arranging the execution of client orders • Carrying out transactions on behalf of the firm (proprietary trading) • Executing or placing orders on behalf of a client (discretionary trading) It is important to note that a final transaction or...
Summary: ...recognition systems. Virage’s comprehensive approach, which automatically cross references each vehicle identified with any other data sources available supports efforts to understand and interpret the potential significance of certain behaviors. In addition to assisting in traffic law enforcement and...
Summary: ...Contextual Records Management: Managing Risk, Complexity and Cost in Law Firms. Over 3,200 organizations use Interwoven solutions. A scalable architecture cost-effectively accommodates vast volumes of records distributed across geographically complex organizations. Delivered by Interwoven, Contextual...
Summary: ...the Menlo Park office of the law firm then known as Venture Law Group, now a division of Heller Ehrman. At Venture Law Group, Russ specialized in the formation and counseling of emerging growth companies, and associated transactions such as private equity financings and mergers/acquisitions. Prior to...
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Summary: ...that inhibits you from satisfying your mandate to “do more with less.” Furthermore, because mobile laptops, remote offices, and branch offices must use your LANs or WANs for backup, your network capability drops and the protection of these most-vulnerable resources becomes less certain and more risky....
Summary: ...law. About Interwoven Interwoven (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...
Summary: ...integrity of the application and database. In addition, understanding the state of the transaction is critical. In order for data to be eligible, the data has to be aged, and also reach a certain state or condition, such as a closed status.
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Summary: ...exposes businesses to potential legal and business ramifications. The consequences could affect the company, executive management, and board members directly, while investors and stock holders suffer from a damaged brand. Regulatory bodies can request that companies reproduce what a certain visitor saw...
Summary: ...the file may be safely destroyed as soon as the transaction or case is complete, even if the client declines to take the file. Instead, a law firm needs to evaluate the statute of limitations regarding legal malpractice claims, and should consider retaining the file (or, a copy if the client has requested,...
Summary: ...mistakenly listed a discontinued phone on its Website; the company had to manufacture numerous phones on special order for the customers who bought them before it could remove the erroneous site content. Backlogs are commonplace and lengthy, as IT becomes overwhelmed with change requests originating from...
This is a small selection of the Autonomy White Papers available, please visit our publications site at http://publications.autonomy.com/ for more information.
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