Mergers and Acquistions News
Categories: Media & Information Services
March 18th 2009, 16:51PM
Autonomy has wrapped its acquisition of Interwoven, completing one of the biggest takeovers this year in the software sector.
In January this year, the two firms reached a definite merger agreement, which saw Autonomy acquiring Interwoven at $16.20 (£11.59) per share.
The deal translates into a transaction worth around $775 million (£555 million).
As part of the deal, Anthony Bettencourt, formerly of Verity, assumes the role of divisional chief executive (CEO) of Autonomy Interwoven, while the ex-CEO of Interwoven joins the Autonomy group management.
Dr. Michael Lynch, group CEO of Autonomy said he was "pleased" to complete the acquisition.
He added: "As the only vendor capable of automating operations across all forms of unstructured information, Autonomy remains uniquely positioned in the market."
Autonomy was founded in 1996, growing out of research at Cambridge University.
Its software specialises in organising unstructured material, and the firm boasts revenues of around $4 billion (£2.9 billion).
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