Interwoven Buys MediaBin
Cash and stock deal worth approximately $10 million.Interwoven Inc. announced Monday that it has entered into an agreement to buy its digital asset management partner MediaBin Inc. in a cash and stock deal worth approximately $10 million. The companies have worked together since last October when they announced an integration of their respective productsfor content management and digital asset managementand have since signed up more than a dozen customers for the integrated solution, dubbed the Interwoven Digital Brand Management Solution. The solution currently combines Interwovens TeamSite Content Server software and MediaBins Asset Manager.
Interwoven plans to move beyond that integration though by adding its Intelligence Server software for advanced content classification and taxonomy management to the mix, to deliver what Interwoven officials call intelligent management of rich media assets.