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From the picture bank
Text Analytics Firm Rides The Wave
2007-05-02 admin
Reuters has entered into an agreement to acquire all of the outstanding shares of ClearForest, provider of Text Analytics solutions, the transaction, is expected to close in approximately 30 days, financial terms were not disclosed.
Reuters says that it plans to retain and continue to work with the existing management team and staff in Us and Israel and plans to continue to support existing products and customers.
Former head of search for AOL, Gerry Campbell, has been appointed to oversee the integration of ClearForest and drive this business.
However, Clarabridge, competitor in the text analysis space, announced in a not so subtle move a migration program aimed at existing ClearForest, customers potentially impacted by the uncertainties generated from the acquisition of ClearForest by Reuters.
Clarabridge says it will offer customers a dollar for dollar credit for any previously purchased ClearForest licenses. This credit can be used for upgrading from any version of ClearForest’s products to Clarabridge’s Content Mining platform.
“This type of disruption can have a profound impact on critical, ongoing projects. Our first priority is to communicate to customers affected that they have an alternative,” said Sid Banerjee, CEO of Clarabridge, which recently announced the release of CMP 2.2,
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