Informatica Corporation, a leading provider of data integration software, announced its intent to acquire Itemfield, an innovative vendor delivering data transformation technology that enables near-universal access to unstructured and semi-structured data. Over the last year, as an OEM partner, Informatica embedded core Itemfield technology as an option to the flagship data integration platform, PowerCenter. Joint customers have successfully utilized the unified platform to access and integrate unstructured and semi-structured data in both batch and real-time applications.
Informatica will acquire all of the capital stock of privately held Itemfield in a cash transaction valued at approximately $55 million. The acquisition will be accounted for under the purchase method of accounting. The acquisition has been approved by the board of directors of each company and is subject to regulatory approvals and customary closing conditions.
"The combination of Informatica and Itemfield will offer the most comprehensive data integration platform with near-universal access to integrate unstructured, semi-structured and structured data," said Sohaib Abbasi, chairman and CEO of Informatica. "With this strategic acquisition, Informatica will offer additional unique capabilities for cross-enterprise data exchange. Together, we will deliver a well-differentiated product to further strengthen Informatica's leadership in the enterprise data integration market."
Unstructured data includes content authored using personal productivity products such as Microsoft Office and Adobe Acrobat. Over 80 percnet of data within enterprises is estimated to be in a broad array of such unstructured formats, including Microsoft Word and Excel as well as Adobe PDF file formats. Semi-structured data includes a variety of industry-specific XML-based data exchange standards such as SWIFT for international funds transfer by financial institutions and HL7 for patient clinical data records by healthcare institutions. These semi-structured data exchange formats facilitate communication and collaboration between enterprises. By inferring and learning from the format of unstructured and semi-structured content, the unique Itemfield technology enables integration of these data sources with all the traditional structured data sources. This innovative technology has earned several accolades, including being named by Gartner as one of the "Cool Data Integration Vendors" in 2006.
Over 150 customers use Itemfield to access and integrate unstructured and semi-structured data. These customers include American Airlines; leading financial institution Natexis Bank; and healthcare IT services company, McKesson. The combination of Informatica and Itemfield will enable customers to cost-effectively integrate all their data and exchange data with their business partners.
Itemfield enables near-universal access to unstructured and semi-structured data without requiring any custom programming. Itemfield includes built-in support for unstructured data authored using Microsoft Excel, Word, PowerPoint, Adobe Acrobat, Postscript, PCL, SUN StarOffice, AFP and HTML. With the combination of PowerCenter and Itemfield technology, Informatica will enable customers to automate the entire data integration lifecycle to access, discover, cleanse, integrate all their data - unstructured, semi-structured and structured.
Today's interconnected business environment requires enterprises to exchange data with customers, suppliers and partners. To facilitate data exchange, industry-specific standards bodies have established data formats such as SWIFT, NACHA, ACORD, RosettaNet, HIPAA and HL7. Effective data exchange between enterprises requires flexible support for multiple versions and variants of these data formats. Based on a unique meta-parser technology, Itemfield delivers an adaptable environment to best address these requirements.
Itemfield's transformation technology for unstructured and semi-structured data is currently integrated with PowerCenter. Informatica will continue to offer this technology to enable integration of unstructured and semi-structured with structured data.
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