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Search Acquires Categorization
2002-07-21 admin
Inktomi, provider of information retrieval solutions, has signed a definitive agreement to acquire Quiver, a privately owned software company based in San Mateo, California.
The addition of Quiver's leading portfolio of categorization and taxonomy software will further strengthen Inktomi's enterprise information retrieval solutions. With an integrated set of products from a single provider that automatically organizes and retrieves critical business information, enterprises can accelerate the pace of their operations while increasing efficiency. The total purchase price of this transaction will be approximately $12 million in a combination of common stock and cash.
As the amount of unstructured data across the enterprise continues to increase, software solutions that provide a unified system for aggregating, organizing, and accessing information become more critical, say the companies.
With the addition of Quiver, Inktomi can deliver information management solutions that provide both highly efficient search capabilities and the ability to accurately arrange information into an intuitive, browsable structure, known as a taxonomy.
By placing content in context and providing an easy-to-use structure for users to retrieve information, enterprises using combined categorization and search can increase productivity and effectiveness of employees, customers and business partners.
"Today's move demonstrates Inktomi's commitment to providing customers with leading solutions for managing high value content, and expanding our offerings in this area with strategic technology acquisitions," according to David Peterschmidt, president and CEO of Inktomi.
"Our enterprise search customers have been actively pursuing solutions for organizing information, and seeking direction from Inktomi in selecting the leading categorization products that meet their business requirements. The combined solutions from Quiver and Inktomi will provide the strongest suite of information retrieval solutions available."
"With its leading enterprise search solutions and our joint success in deploying categorization technology at multiple Fortune 500 companies over the past year, Inktomi is a natural fit," says Scott Potter, Quiver president and CEO.
"We look forward to integrating our teams to provide a highly robust and comprehensive set of information retrieval solutions, and accelerating adoption of these compelling technologies throughout the enterprise."
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