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.
Autonomy will gain access to Virages base of more than 400 customers, most of them in media and entertainment, education and government.
Paul Lego, chairman and CEO of San Mateo-based Virage, said the deal would enable Virage to better support its existing customers and offer "enhanced" products.
Lynch said that in addition to offering more products, through the integration of Virage and Autonomys existing video technologies, the deal would enable Virage customers to better integrate their video and rich media software into the rest of their unstructured data infrastructure.
Combined Autonomy and Virage products are expected to be generally available during the first quarter following completion of the transaction.