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Weekly News Digest

July 14, 2003 — 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 ITIís Twitter account: @ITINewsBreaks.

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Autonomy to Acquire Virage

Autonomy Corp., PLC, a provider of infrastructure software for the enterprise, announced it will acquire Virage, Inc., a provider of video and rich media communication software. The companies will include Autonomy's Dremedia video technology (whose customers include the BBC and CNN) and Autonomy's infrastructure software in the Virage products. The transaction is subject to customary closing conditions, including the approval of Virage's stockholders. The transaction is expected to be completed late in the third quarter of 2003 with combined products available the following quarter.

Autonomy said that the transaction would enable it to further extend the adoption of Autonomy's Intelligent Data Operating Layer (IDOL) as the key infrastructure for the automated management of all forms of unstructured information. It will also significantly broaden Autonomy's installed base of enterprise, media and entertainment, educational, and government customers. Virage bring a customer base of over 400 companies, including Bloomberg, Citigroup, CNN, Coca-Cola, the FBI, General Electric, Microsoft, MIT, the United Nations, and multiple U.S. federal agencies.

Virage, headquartered in San Mateo, Calif., has offices throughout the U.S. and Europe. Virage solutions include VS Production for streamlining of professional video work flow, VS Publishing for developing content into Internet programming, and VS Webcasting for planning and producing interactive, live and on-demand Webcasts.

Autonomy has its headquarters in San Francisco and in Cambridge, U.K., and has offices around the world. Autonomy's customer base includes more than 600 global organizations.

Source: Autonomy



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