Interwoven
Encyclopedia
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.
called TeamSite, which is designed for creating complex intranet
and Internet web application
s. Their document management system
, WorkSite, stores, indexes, organizes, and searches documents including email messages. Other products include OpenDeploy and LiveSite.
Interwoven claims to have over 4,200 organizations among its customers, including Airbus
, the Macquarie Group
, American Hospital Association
, Avaya
, the BT Group
, Cisco
, Citi, Delta Air Lines
, DLA Piper
, FedEx
, Grant Thornton
, Hilton Hotels
, Hong Kong Trade and Development Council, HSBC
, LexisNexis
, MasterCard
, Microsoft
, Samsung
, Royal Dutch 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 substantial percentage of the company's revenue comes 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 has 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.
(CMS) domain include SDL
with its Tridion product suite, FatWire
with its FatWire
Content Server solution, the open source ECM and WCM platform Alfresco
, 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), Day Software Day Software
(bought by Adobe Systems
on July 28, 2010), and Broadvision.
an 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
. In its private startup phase the company was backed by Foundation Capital
, Draper Fisher Jurvetson
, Accel Partners
and other venture capital co-investors including Internet entrepreneur Gary Kremen
.
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.
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.
. 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. 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.
. According to Interwoven's website:
According to Autonomy's announcement:
The acquisition was finalized on March 17, 2009.
San Jose, California
San Jose is the third-largest city in California, the tenth-largest in the U.S., and the county seat of Santa Clara County which is located at the southern end of San Francisco Bay...
, USA and founded in 1995, it was acquired on March 17, 2009 by Autonomy
Autonomy Corporation
Autonomy is a multinational enterprise software company with joint headquarters in Cambridge, United Kingdom, and San Francisco, USA and a subsidiary of Hewlett-Packard. The company uses a combination of technologies born out of research at the University of Cambridge...
. The Interwoven product line is now known as Autonomy Interwoven.
Products and customers
The company produces a content management systemContent management system
A content management system is a system providing a collection of procedures used to manage work flow in a collaborative environment. These procedures can be manual or computer-based...
called TeamSite, which is designed for creating complex intranet
Intranet
An intranet is a computer network that uses Internet Protocol technology to securely share any part of an organization's information or network operating system within that organization. The term is used in contrast to internet, a network between organizations, and instead refers to a network...
and Internet web application
Web application
A web application is an application that is accessed over a network such as the Internet or an intranet. The term may also mean a computer software application that is coded in a browser-supported language and reliant on a common web browser to render the application executable.Web applications are...
s. Their document management system
Document management system
A document management system is a computer system used to track and store electronic documents and/or images of paper documents. It is usually also capable of keeping track of the different versions created by different users . The term has some overlap with the concepts of content management...
, WorkSite, stores, indexes, organizes, and searches documents including email messages. Other products include OpenDeploy and LiveSite.
Interwoven claims to have over 4,200 organizations among its customers, including Airbus
Airbus
Airbus SAS is an aircraft manufacturing subsidiary of EADS, a European aerospace company. Based in Blagnac, France, surburb of Toulouse, and with significant activity across Europe, the company produces around half of the world's jet airliners....
, the Macquarie Group
Macquarie Group
Macquarie Group Limited is a global investment banking and diversified financial services group, providing banking, financial, advisory, investment and funds management services to institutional, corporate and retail clients and counterparties around the world...
, American Hospital Association
American Hospital Association
The American Hospital Association is an organization that promotes the quality provision of health care by hospitals and health care networks through such efforts as promoting effective public policy and providing information related to health care and health administration to health care...
, Avaya
Avaya
Avaya Inc. is a privately held computer networking, information technology and telecommunications company that is a global provider of business communications systems. The international head quarters is in Basking Ridge, New Jersey, United States...
, the BT Group
BT Group
BT Group plc is a global telecommunications services company headquartered in London, United Kingdom. It is one of the largest telecommunications services companies in the world and has operations in more than 170 countries. Through its BT Global Services division it is a major supplier of...
, Cisco
Cisco
Cisco may refer to:Companies:*Cisco Systems, a computer networking company* Certis CISCO, corporatised entity of the former Commercial and Industrial Security Corporation in Singapore...
, Citi, Delta Air Lines
Delta Air Lines
Delta Air Lines, Inc. is a major airline based in the United States and headquartered in Atlanta, Georgia. The airline operates an extensive domestic and international network serving all continents except Antarctica. Delta and its subsidiaries operate over 4,000 flights every day...
, DLA Piper
DLA Piper
DLA Piper is a global law firm with 76 offices across 30 countries and more than 4,200 lawyers. As of May 2011, it was the largest law firm in the world by number of attorneys. The firm's global revenues were $1.92 billion in 2009-2010. The firm is composed of two partnerships, DLA Piper...
, FedEx
FedEx
FedEx Corporation , originally known as FDX Corporation, is a logistics services company, based in the United States with headquarters in Memphis, Tennessee...
, Grant Thornton
Grant Thornton
Grant Thornton LLP encompasses the U.S. operations of Grant Thornton International, the largest accounting organizations outside of the Big Four . The member firms of Grant Thornton International comprise a global network of 27,000 employees and 2,207 partners in more than 110 countries...
, Hilton Hotels
Hilton Hotels
Hilton Hotels & Resorts is an international chain of full-service hotels and resorts founded by Conrad Hilton and now owned by Hilton Worldwide. Hilton hotels are either owned by, managed by, or franchised to independent operators by Hilton Worldwide. Hilton Hotels became the first coast-to-coast...
, Hong Kong Trade and Development Council, HSBC
HSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
, LexisNexis
LexisNexis
LexisNexis Group is a company providing computer-assisted legal research services. In 2006 it had the world's largest electronic database for legal and public-records related information...
, MasterCard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
, Microsoft
Microsoft
Microsoft Corporation is an American public multinational corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses, and supports a wide range of products and services predominantly related to computing through its various product divisions...
, Samsung
Samsung
The Samsung Group is a South Korean multinational conglomerate corporation headquartered in Samsung Town, Seoul, South Korea...
, Royal Dutch Shell
Royal Dutch Shell
Royal Dutch Shell plc , commonly known as Shell, is a global oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the fifth-largest company in the world according to a composite measure by Forbes magazine and one of the six...
, Qantas Airways, Tesco
Tesco
Tesco plc is a global grocery and general merchandise retailer headquartered in Cheshunt, United Kingdom. It is the third-largest retailer in the world measured by revenues and the second-largest measured by profits...
, Virgin Mobile
Virgin Mobile
Virgin Mobile is a brand used by many mobile phone service providers across the globe; its headquarters are based in the United Kingdom. Virgin Mobile has local operations in Australia, Canada, France, India, South Africa, Greece, United Kingdom and the United States. It briefly also had operations...
, and White & Case
White & Case
White & Case was founded in New York in 1901 and has grown into one of the world's leading global law firms. The firm has since expanded, and has practice groups in emerging markets including Latin America, Central & Eastern Europe, Africa, the Middle East and Asia, as well as in Europe...
. A community of over 20,000 developers and over 300 partners enrich and extend Interwoven's offerings.
A substantial percentage of the company's revenue comes 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 has a network of system integration and marketing partners (including Accenture
Accenture
Accenture plc is a global management consulting, technology services and outsourcing company headquartered in Dublin, Republic of Ireland. It is the largest consulting firm in the world and is a Fortune Global 500 company. As of September 2011, the company had more than 236,000 employees across...
, Deloitte and IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
) as well as development and technology partners (including Adobe
Adobe Systems
Adobe Systems Incorporated is an American computer software company founded in 1982 and headquartered in San Jose, California, United States...
, RBRO Solutions,
EMC
EMC Corporation
EMC Corporation , a Financial Times Global 500, Fortune 500 and S&P 500 company, develops, delivers and supports information infrastructure and virtual infrastructure hardware, software, and services. EMC is headquartered in Hopkinton, Massachusetts, USA.Former Intel executive Richard Egan and his...
, Microsoft
Microsoft
Microsoft Corporation is an American public multinational corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses, and supports a wide range of products and services predominantly related to computing through its various product divisions...
, SAP AG
SAP AG
SAP AG is a German software corporation that makes enterprise software to manage business operations and customer relations. Headquartered in Walldorf, Baden-Württemberg, with regional offices around the world, SAP is the market leader in enterprise application software...
and Sun Microsystems
Sun Microsystems
Sun Microsystems, Inc. was a company that sold :computers, computer components, :computer software, and :information technology services. Sun was founded on February 24, 1982...
) around its products.
Competitors
Some of Interwoven's competitors in the content managementContent management
Content management, or CM, is the set of processes and technologies that support the collection, managing, and publishing of information in any form or medium. In recent times this information is typically referred to as content or, to be precise, digital content...
(CMS) domain include SDL
SDL International
SDL plc is a global company with headquarters based in Maidenhead, UK that provides language localization services and translation and content management software...
with its Tridion product suite, FatWire
FatWire
FatWire Software is a privately held company selling web content management system software.-History :* 1996: Established by Mark Fasciano, Ari Kahn and John Murcott it was named FutureTense...
with its FatWire
FatWire
FatWire Software is a privately held company selling web content management system software.-History :* 1996: Established by Mark Fasciano, Ari Kahn and John Murcott it was named FutureTense...
Content Server solution, the open source ECM and WCM platform Alfresco
Alfresco (software)
Alfresco is a Free/Libre enterprise content management system for Microsoft Windows and Unix-like operating systems. Alfresco comes in two flavours. Alfresco Community Edition is free software, LGPL licensed open source and open standards. Alfresco Enterprise Edition is commercially & proprietary...
, Squiz
Squiz
Squiz is an open source software services company, founded in Sydney, New South Wales, Australia in 1998. The company produces the enterprise content management system , Squiz Matrix .-Business model:...
with its MySource Matrix enterprise open source wCMS, Open Text Corporation
Open Text Corporation
OpenText Corporation Waterloo, Ontario, Canada. As Canada's largest software company, it produces and distributes computer software applications designed to enable Enterprise content management solutions for large corporations across all industries....
(Livelink, supplemented with acquisitions of Vignette, RedDot, IXOS, Hummingbird), EMC
EMC Corporation
EMC Corporation , a Financial Times Global 500, Fortune 500 and S&P 500 company, develops, delivers and supports information infrastructure and virtual infrastructure hardware, software, and services. EMC is headquartered in Hopkinton, Massachusetts, USA.Former Intel executive Richard Egan and his...
(via Documentum acquisition), Xerox Corporation (DocuShare), IBM (via FileNet acquisition), Oracle Corporation
Oracle Corporation
Oracle Corporation is an American multinational computer technology corporation that specializes in developing and marketing hardware systems and enterprise software products – particularly database management systems...
(Oracle Content Management (via Stellent acquisition)), Microsoft (SharePoint), Day Software Day Software
Day Software
Day Software was an enterprise content management software company headquartered in Basel, Switzerland and Boston, Massachusetts. Day Software was founded in 1993 in Basel, Switzerland....
(bought by Adobe Systems
Adobe Systems
Adobe Systems Incorporated is an American computer software company founded in 1982 and headquartered in San Jose, California, United States...
on July 28, 2010), and Broadvision.
Foundation to initial public offering
The company was founded in 1995 in California by SingaporeSingapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
an entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
Peng Tsin Ong, who was also Interwoven's first CEO and chairman. Peng was previously co-founder of Match.com
Match.com
Match.com is an online dating company which reportedly has more than 20 million members, made up of a 49/51 male/female ratio, and Web sites serving 25 countries in more than 8 different languages. Its headquarters are in Dallas, Texas and the company also has offices in West Hollywood, Tokyo, Rio,...
, and later went on to found Encentuate
Encentuate
Encentuate, Inc., was a privately held company that was started in Singapore in 2002, but eventually based in Redwood City, California before it was acquired by IBM in 2008...
. In its private startup phase the company was backed by Foundation Capital
Foundation capital
Foundation Capital is a venture capital firm located in Silicon Valley. The firm was founded in 1995, and manages over $2.4 billion in investment capital. It raised its seventh and largest fund of $750 million in April 2008...
, Draper Fisher Jurvetson
Draper Fisher Jurvetson
Draper Fisher Jurvetson is a venture capital firm based in Menlo Park, California with affiliate offices in more than 30 cities around the world and over $7 billion in capital commitments....
, Accel Partners
Accel Partners
Accel Partners is a global venture and growth equity firm funding companies from inception through the growth stage.The firm is based in Palo Alto, California with major offices in Bangalore, Beijing, London, and Shanghai....
and other venture capital co-investors including Internet entrepreneur Gary Kremen
Gary Kremen
Gary Alan Kremen is an entrepreneur who founded personals site match.com, and registered several premiere domain names in the early days of the internet, including sex.com, jobs.com, , and autos.com...
.
On October 8, 1999 Interwoven went public on NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
at $17.00 per share with Credit Suisse First Boston
Credit Suisse First Boston
Credit Suisse First Boston was the former name of the banking firm Credit Suisse.-History:In 1978, Credit Suisse and First Boston Corporation formed a London-based 50-50 investment banking joint venture called the Financière Crédit Suisse-First Boston...
as the lead underwriter of the offering.
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
United States Securities and Exchange Commission
The U.S. Securities and Exchange Commission is a federal agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States...
contained false and misleading statements as it did not disclose connections between the underwriters and other investors and customers of Interwoven.
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 ValleySilicon Valley
Silicon Valley is a term which refers to the southern part of the San Francisco Bay Area in Northern California in the United States. The region is home to many of the world's largest technology corporations...
. At one point in early 2000, it promised to pay for a 2-year lease on a new BMW Z3
BMW Z3
The BMW Z3 was the first modern mass-market roadster produced by BMW, as well as the first new BMW model assembled in the United States. The Z3 was introduced as a 1996 model year vehicle, shortly after being featured in the James Bond movie,...
sports car to the first 20 new engineers coming to Interwoven and staying with the company for at least a year. 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.
Sale to Autonomy
On 22 January 2009, Interwoven announced that it will be acquired by Autonomy CorporationAutonomy Corporation
Autonomy is a multinational enterprise software company with joint headquarters in Cambridge, United Kingdom, and San Francisco, USA and a subsidiary of Hewlett-Packard. The company uses a combination of technologies born out of research at the University of Cambridge...
. According to Interwoven's website:
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:
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.
External links
- http://www.interwoven.com/ - Company website
- Intersections by Interwoven -- Corporate Podcast (stale link)
- GearUp 2008 Conference Podcast