Interwoven
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| Type | Subsidiary |
|---|---|
| Industry | Software |
| Founded | Sunnyvale (1995) |
| Headquarters | San Jose, California, U.S. |
| Key people | Joe Cowan, CEO and Director Max Carnecchia, President John Calonico, CFO Rafiq Mohammadi, CTO |
| Products | http://promote.autonomy.com/components/pagenext.jsp?topic=MAIN::PRODUCTS |
| Revenue | $225.7 million USD (2007) |
| Employees | Ca. 750 |
| Parent | Autonomy |
| Website | www.interwoven.com |
Interwoven is a line of Content Management Systems and related products. Previously a stand-alone company headquartered in San Jose, California, USA and founded in 1995, it was acquired on March 17, 2009 by Autonomy. The Interwoven product line is now known as Autonomy Interwoven.
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[edit] Products and customers
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This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (July 2011) |
The company produces a content management system called TeamSite, which is designed for creating complex intranet and Internet web applications. Their document management system, WorkSite, stores, indexes, organizes, and searches documents including email messages. Other products include OpenDeploy and LiveSite.
Interwoven claims to have over 4,200 organizations among its customers, including Airbus, the Macquarie Group, American Hospital Association, Avaya, the BT Group, Cisco, Citi, Delta Air Lines, DLA Piper, FedEx, Foreign Affairs and International Trade Canada, Grant Thornton, Hilton Hotels, Hong Kong Trade and Development Council, HSBC, LexisNexis, MasterCard, Microsoft, Samsung, Royal Dutch Shell, Qantas Airways, Tesco, Virgin Mobile, and White & Case. A community of over 20,000 developers and over 300 partners enrich and extend Interwoven's offerings.
A substantial percentage of the company's revenue comes from their vertical solutions for document management for law firms, an industry where Interwoven has significant market share and a vertical product for financial services. It has a network of system integration and marketing partners (including Accenture, Deloitte and IBM) as well as development and technology partners (including Adobe, RBRO Solutions, EMC, Microsoft, SAP AG and Sun Microsystems) around its products.
[edit] Competitors
Some of Interwoven's competitors in the content management (CMS) domain include SDL with its Tridion product suite, FatWire with its FatWire Content Server solution, the open source ECM and WCM platform Alfresco, Squiz with its MySource Matrix enterprise open source wCMS, Open Text Corporation (Livelink, supplemented with acquisitions of Vignette, RedDot, IXOS, Hummingbird), EMC (via Documentum acquisition), Xerox Corporation (DocuShare), IBM (via FileNet acquisition), Oracle Corporation (Oracle Content Management (via Stellent acquisition)), Microsoft (SharePoint), Day Software Day Software (bought by Adobe Systems on July 28, 2010), and Broadvision.
[edit] Foundation to initial public offering
The company was founded in 1995 in California by Singaporean entrepreneur Peng Tsin Ong, who was also Interwoven's first CEO and chairman. Peng was previously co-founder of Match.com, and later went on to found Encentuate.[1][2] In its private startup phase the company was backed by Foundation Capital,[3] Draper Fisher Jurvetson,[4] Accel Partners and other venture capital co-investors including Internet entrepreneur Gary Kremen.[5]
On October 8, 1999 Interwoven went public on NASDAQ at $17.00 per share with Credit Suisse First Boston as the lead underwriter of the offering.[6] In November 2001 the IPO and a follow-on public offering were challenged in a class-action lawsuit, based on the allegation that the official prospectus filed with the SEC contained false and misleading statements as it did not disclose connections between the underwriters and other investors and customers of Interwoven.[7][8]
[edit] Dot-com boom
In the years of the dot-com bubble the company made news by offering huge hiring incentives, in order to compete for talented people with other startup companies in Silicon Valley. At one point in early 2000, it promised to pay for a 2-year lease on a new BMW Z3 sports car to the first 20 new engineers coming to Interwoven and staying with the company for at least a year.[9] This was less expensive than the going rate for recruiting fees in Silicon Valley at that time. Though a minority of engineers elected to take the car over the equivalent sum in cash, the move generated a large amount of publicity.[10][11][12]
[edit] Sale to Autonomy
On 22 January 2009, Interwoven announced that it will be acquired by Autonomy Corporation. According to Interwoven's website:[13]
Today, Interwoven entered into a definitive agreement to be acquired by Autonomy, the clear leader in enterprise search and the front runner in Meaning-Based Computing. The combined company will have more than 2,000 employees and 20,000 customers. Following the close, Interwoven will become a wholly owned subsidiary of Autonomy.
According to Autonomy's announcement:[14]
Under the terms of the Acquisition Agreement, it is proposed that Interwoven stockholders will receive $16.20 in cash for each outstanding Interwoven share, representing a premium of 36.8% to the closing share price of $11.84 on January 21, 2009, and a premium of 36.2% to the average closing share price over the 30 days through January 21, 2009 Aggregate consideration of approximately $775 million (assuming exercise of all vested in-the-money Interwoven share options), funded by an underwritten placing of ordinary shares (the "Placing"), a new revolving credit facility from Barclays and a portion of Interwoven and Autonomy's cash reserves. Post-closing Autonomy expects to have a cash balance of at least $75 million, assuming close in Q2'09.
The acquisition was finalized on March 17, 2009.
HP bought Autonomy on August 19, 2011.
[edit] Notes and references
- ^ Innovation Magazine Article with Encentuate Founder
- ^ Encentuate : Team
- ^ Foundation Capital
- ^ Draper Network | Draper Fisher Jurvetson
- ^ K R E M E N
- ^ Press Releases - Interwoven - Press Releases
- ^ Interwoven, Inc. - Securities Class Action
- ^ Court Denies Interwoven Motion To Dismiss Securities Suit - 03/26/2003
- ^ Wired 8.04: Must Read
- ^ [1]
- ^ From Z3's to Charity Donations
- ^ Don Campbell
- ^ Interwoven Announces Definitive Agreement to be Acquired by Autonomy
- ^ Autonomy Corporation Plc announces agreement to acquire Interwoven, Inc.
- "Interwoven Official Corporate Factsheet" (PDF). http://media.corporate-ir.net/media_files/irol/11/115270/corp_pro_5_07.pdf. Retrieved 27 June 2007.
- "Hoover's Company Overview Interwoven Inc.". http://www.hoovers.com/interwoven/--ID__59680--/free-co-factsheet.xhtml?cm_ven=PAID&cm_cat=BUS&cm_pla=CO1&cm_ite=Interwoven_Inc. Retrieved 5 July 2007.
[edit] External links
- http://www.interwoven.com/ - Company website
- Intersections by Interwoven -- Corporate Podcast (stale link)
- GearUp 2008 Conference Podcast
