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homepage = [http://www.interwoven.com www.interwoven.com]
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'''Interwoven''', Inc., was an [[enterprise software]] company headquartered in [[San Jose, California]], USA and founded in 1995. On March 17, 2009, [[Autonomy Corporation|Autonomy]] acquired Interwoven for $775 million. Interwoven is now [[Autonomy Interwoven]].
'''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 Corporation|Autonomy]]. The Interwoven product line is now known as [[Autonomy Interwoven]].


== Products and customers ==
== Products and customers ==

Revision as of 13:26, 12 August 2010

Interwoven Incorporated
Company typePublic (NASDAQ: IWOV)
IndustrySoftware
FoundedUnited States Sunnyvale (1995)
Headquarters
San Jose, California
,
U.S.
Key people
Joe Cowan, CEO and Director
Max Carnecchia, President
John Calonico, CFO
Rafiq Mohammadi, CTO
Productshttp://www.interwoven.com/products
Revenue$225.7 million USD (2007)
Number of employees
Ca. 750
Websitewww.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.

Products and customers

The company is mainly known for both its content management system TeamSite, used to create complex intranet and Internet websites for enterprises and document management system WorkSite used to store, index, organize and search documents and email. Other solutions include Open Deploy and Livesite. Interwoven claims to have over 4,200 organizations as customers, including Airbus, The Macquarie Group, American Hospital Association, Avaya, BT, Cisco, Citi, Delta Air Lines, DLA Piper, FedEx, Grant Thornton, Hilton Hotels, Hong Kong Trade and Development Council, HSBC, LexisNexis, MasterCard, Microsoft, Samsung, 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 big percentage of the company's revenues come 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 claims to have created 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.

Competitors

Interwoven's main competitors in the content management (CMS) business include SDL Tridion with its R5 product suite, FatWire with its FatWire Content Server solution, 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) and Broadvision.

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]

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]

Sale to Autonomy

On 22 January 2009, Interwoven announced that it will be acquired by Autonomy Corporation. Here's an excerpt from 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.

Notes and references

  1. ^ Innovation Magazine Article with Encentuate Founder
  2. ^ Encentuate : Team
  3. ^ Foundation Capital
  4. ^ Draper Network | Draper Fisher Jurvetson
  5. ^ K R E M E N
  6. ^ Press Releases - Interwoven - Press Releases
  7. ^ Interwoven, Inc. - Securities Class Action
  8. ^ Court Denies Interwoven Motion To Dismiss Securities Suit - 03/26/2003
  9. ^ Wired 8.04: Must Read
  10. ^ [1]
  11. ^ From Z3's to Charity Donations
  12. ^ Don Campbell
  13. ^ Interwoven Announces Definitive Agreement to be Acquired by Autonomy
  14. ^ Autonomy Corporation Plc announces agreement to acquire Interwoven, Inc.
  • "Interwoven Official Corporate Factsheet" (PDF). Retrieved 27 June 2007.
  • "Hoover's Company Overview Interwoven Inc". Retrieved 5 July 2007.
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