Feeds

Autonomy coughs up $500m for Verity

And that's the truth

Beginner's guide to SSL certificates

Autonomy is to hoover up rival search and process management vendor Verity Inc for $500m, the two firms announced early today.

The deal will see Autonomy's CEO and joint founder Mike Lynch become CEO of the combined company, with Verity CEO Anthony Bettencourt becoming CEO of the US operation. Lynch said the deal will “extend the adoption of our Intelligent Data Operating Layer (IDOL) as the standard for handling all forms of unstructured information.” The combined company will have around 16,000 customers.

UK-based Autonomy will pay $13.50 for each Verity share, funding the offer with a rights issue, a term loan and existing cash.

The acquisition has prompted the "welcome" of enterprise search rival Fast Search & Transfer, whose boss, John Lervik says: "This comes as no surprise - we have been evaluating Verity and its offerings ourselves and have found the price to be far too high. Verity has had little to no growth over the past years, and we see little, if any, synergy between their offerings and Autonomy's."

Earlier this year, Mike Lynch trashed the UK's immigration policy. Presumably he decided that rather than importing bright things from outside the UK, and decided it was simply easier to buy a few thousand Americans instead.®

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.