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Weekly News Digest
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July 9, 2007 — In addition to this week's NewsBreaks article and the monthly NewsLink Spotlight, Information Today, Inc. (ITI) offers Weekly News Digests that feature recent product news and company announcements. Watch for additional coverage to appear in the next print issue of Information Today. For other up-to-the-minute news, check out ITI’s Twitter account: @ITINewsBreaks.
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Autonomy Acquires Content-Archiving Company ZANTAZ, Inc.
Autonomy Corp. (www.autonomy.com), a provider of infrastructure software for the enterprise, announced an agreement to acquire ZANTAZ, Inc. (www.zantaz.com), a provider of content archiving and electronic discovery solutions and software as a service. The purchase price is approximately $375 million in cash after certain deductions, funded by an underwritten placing, a term loan, and a portion of Autonomy’s cash reserves. Autonomy expects the acquisition to be accretive to earnings in the first 6 months, with expected cost synergies of approximately $25 million per year. The transaction is expected to be complete by August 2007 and is subject to the usual closing conditions. ZANTAZ customers include nine of the top 10 global law firms, 11 of the Fortune 25, and 14 of the top 20 financial securities firms.The acquisition will expand the market, distribution, and reach for Autonomy’s Aungate IDOL-based products. The combined solution will offer customers an end-to-end risk management solution—from hosted archiving to e-discovery, compliance, real-time governance, and archive analytics—in one consolidated platform, including information from documents to applications and voice and video.Source: Autonomy Corp.
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Brandi Scardilli
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