Interwoven acquires Scrittura
Interwoven has acquired
Scrittura, a provider of document automation technology. Interwoven says it is now the only enterprise content management vendor to provide a complete solution for the automation of over-the-counter (OTC) derivatives trading.
Under the terms of the deal, Scrittura shareholders will receive initial cash consideration of approximately $16.3 million and up to $2 million of additional cash consideration if certain revenue and operating contribution goals are achieved by Dec. 31, says Interwoven, which adds it will assume certain Scrittura stock options in the acquisition.
Interwoven says it new OTC derivatives solution is designed to enable financial services customers to more quickly and easily conduct complex, non-exchange based trades with other financial institutions and will provide the following functionality:
- business process management,
- document management,
- records management,
- fax and paper capture, and
- messaging brokering.