Autonomy to Buy Virage
Autonomy makes a move into the rich media world.Autonomy Corp. plc is making a move into the rich media world with the planned acquisition of Virage Inc. announced Thursday. The all-cash transaction is valued at approximately $24.8 million and is expected to close by late in the third quarter. When complete, Autonomy, a search and knowledge management software developer based in Cambridge, England, will get Virages video and rich media communications software. Autonomy officials said this will help extend adoption of Autonomys Intelligent Data Operating Layer (IDOL) as the infrastructure to manage all forms of unstructured information.
"With the inclusion of Autonomys Dremedia video technology and Autonomys infrastructure software at the core of the Virage products, we believe that Virage will be better able to take advantage of its clear leadership position," said Mike Lynch, CEO of Autonomy, in a statement.