Interwoven, Inc., an enterprise content management (ECM) company, today announced the acquisition of the assets of Software Intelligence, Inc., a leading provider of records management (RM) systems.
Software Intelligence's comprehensive RM product will be renamed Interwoven Records Manager, and will enable companies to manage paper documents, electronic documents and e-mail under a single unified records system. Interwoven purchased the assets of Software Intelligence for approximately $2 million in cash and stock.
"In today's business environment, demand for records management is strong," said Martin Brauns, chairman and CEO, Interwoven. "We have made a strategic move in buying a leading records management product and are making it part of our complete ECM platform."
Like Interwoven, Software Intelligence has established a particularly strong track record in the professional services sector, with customers including Deloitte & Touche and Toyota Motor Sales, and leading law firms such as Coudert Brothers, McDermott, Will & Emery, and Winston & Strawn. The acquisition reinforces Interwoven's commitment to meeting the needs of such enterprises and firms, which have stressed the critical importance of being able to manage records across all media, including e-mail. The Interwoven e- mail management solutions for Microsoft Outlook and Lotus Notes were the first step in this direction. Now, Interwoven's capabilities encompass the complete content lifecycle, from creation to archiving and retention.
Said Charles Brett, vice president at META Group, a leading provider of IT research, advisory services and strategic consulting, "The new regulatory environment has made records management a matter of great urgency for all types of organizations. Integrating complete records management into a unified content management environment will help companies meet their compliance goals efficiently and cost-effectively."
About Interwoven Records Manager
Interwoven Records Manager will initially be integrated with Interwoven WorkSite, the company's leading document management and collaboration solution. Enterprises will be able to establish and implement a single, coordinated management and retention strategy for records across all types of media, including paper, e-mail, scanned images and electronic documents, at the client, project, folder or box level, in their original context. To ease adoption, the solution gives end users simple and intuitive ways to access and manage both electronic and paper files from a single interface in the context of their work. Retention policies can be assigned automatically based on client and project with no additional action or classification required.
"Managing records retention in silos creates risks in many organizations. We are very pleased to see Interwoven broaden its capabilities to address this pressing issue," said Jeffrey Schwarz, IT partner, McDermott Will & Emery LLP. "As a customer of both Software Intelligence and Interwoven, we are excited by the possibilities of a single unified records management platform from a company we have grown to trust."
Interwoven Records Manager provides easy-to-use RM capabilities at the desktop level. Built on a true enterprise architecture, it will scale to meet the functional and logistical needs of small firms as well as large, distributed organizations. A service-oriented architecture will enable the consistent definition and application of records management policy across all Interwoven ECM applications -- including TeamSite, WorkSite and Media Bin -- as well as external systems.
General availability of Interwoven Records Manager, integrated with Interwoven WorkSite, is planned for Q3 2004. For more information on the acquisition of assets of Software Intelligence and Interwoven Records Manager, there will be a complimentary Webinar on August 20, 2004 at 8 a.m. PT/11 a.m. ET. To register visit: http://www.interwoven.com/events/online.
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