SaaS e-discovery from Interwoven
Interwoven has entered into a definitive agreement to acquire Discovery Mining, an e-discovery provider to professional services firms and corporations. Discovery Mining significantly streamlines and simplifies the discovery phase of litigation and investigations with a software-as-a-service solution for processing, reviewing and producing massive volumes of electronic data.
Under the terms of the agreement between Discovery Mining and Interwoven, Interwoven will pay approximately $36 million in cash for all outstanding shares of Discovery Mining and vested stock options, and assume certain existing employee stock options.
The acquisition of Discovery Mining extends Interwoven's offerings by adding a service for managing e-discovery for organizations do not have the infrastructure to handle large volumes of information. Discovery Mining says its highly scalable service features capabilities for accelerated review, including concept searching, clustering, analytics and e-mail filtering. As a result, Interwoven says, organizations can improve the productivity of reviewers, make more effective assessments and meet the pressing deadlines of litigation and investigations with greater predictability.