Vignette acquires Tower Technology

Vignette reports it has signed a definitive agreement to acquire Tower Technology for $125 million, comprised of $45 million in cash and $80 million in Vignette stock.

When completed, the acquisition will bring together Vignette’s content management, collaboration and portal solutions with Tower’s integrated enterprise document and records management. Vignette says it will offer combined solutions for risk and compliance-management related initiatives such as Sarbanes-Oxley 302 and 404, HIPAA, SEC 17a4, DoD 5015.2, GLB and Basel II by the end of Q1.

Vignette will combine its Web content management, interaction management, information integration, collaboration and delivery capabilities with Tower’s document and records management, imaging, report management and workflow solutions.

Tower brings three primary products to Vignette:

• Tower IDM—a scalable, Web-enabled, document processing system for managing virtually all forms of unstructured business information, including images, forms, computer-generated reports, statements and invoices, office documents and e-mail.

• --Tower Seraph—a comprehensive records management solution that helps eliminate paperwork, enable collaborative casework and compliance initiatives. Tower Seraph is certified as DoD 5015.2 compliant.

• Tower WebCapture—a solution that provides businesses with the ability to capture and aggregate the content that constitutes an online transaction and to automatically create a permanent, unalterable visual transaction log and audit trail.