Interwoven, Inc. announced that it has entered into a definitive agreement to be acquired by Autonomy Corporation plc, a global leader in infrastructure software.
Interwoven and Autonomy are two high-performing companies that share the same vision for improving the way organizations understand and interact with information, said Joe Cowan, Interwoven CEO. We believe customers will benefit from the combination of Autonomy's industry-leading technology with Interwoven's unmatched position in our target markets. We are extremely excited with the unique possibilities for future product direction that will arise through the integration with Autonomy's technology.
The combination of Autonomy and Interwoven, industry leaders in meaning-based computing and document and content management respectively, will continue the extension of Autonomy's Intelligent Data Operating Layer - an information infrastructure that global 2000 companies standardize on to search and process over 1,000 data types, said Mike Lynch, group CEO of Autonomy. We are very familiar with Interwoven, its product base and management team through our joint customers and partnerships over the years and see this transaction as an exciting opportunity to extend the chain of Autonomy's solutions.
Under the terms of the agreement, Interwoven will be acquired by Autonomy for $16.20 per share, in cash, or approximately $775 million in the aggregate. The directors and certain executive officers of Autonomy and Interwoven have agreed to vote the shares they own in favor of the acquisition. The transaction is expected to close by Q2 in 2009 and is subject to shareholder approval by both companies, Hart-Scott-Rodino antitrust clearance and other closing conditions.
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