Autonomy to acquire Interwoven
Autonomy reports it has entered into a definitive agreement under which it will acquire Interwoven. The acquisition agreement proposes that Interwoven stockholders receive $16.20 in cash for each outstanding Interwoven share, representing approximately $775 million.
Emerging highlights of the acquisition include:
- All directors and selected executive officers of Interwoven and Autonomy have agreed to vote in favor of the acquisition.
- The acquisition is expected to complete in the second quarter of 2009 and is subject to Autonomy and Interwoven shareholder and regulatory approvals and other customary closing conditions.
- A combined customer base of in excess of 20,000 will provide additional scale and significant cross-selling opportunities.
- Opportunities to provide broader and more comprehensive offerings to customers will emerge.
- Autonomy and Interwoven believe combining the two companies will accelerate the delivery of the next generation unstructured information management software.
- The acquisition will strengthen Autonomy's access to the worldwide legal and compliance industry through Interwoven's significant sales force with industry expertise.