Autonomy to buy Virage

Autonomy has announced the acquisition of Virage for approximately $24.8 million in cash. The deal is expected to close by late in the third quarter.

The move will give Autonomy access to Virage's video and rich media communications software. Autonomy further reports the acquisition will help extend adoption of Autonomy's Intelligent Data Operating Layer (IDOL) as the infrastructure to manage all forms of unstructured information. It adds that the company will gain access to Virage's base of more than 400 customers, most of them in media and entertainment, education and government.

Autonomy further says that in addition to offering more products through the integration of it existing video technologies with that of Virage, the deal would enable Virage customers to better integrate their video and rich media software into the rest of their unstructured data infrastructure.