Enterprise search and knowledge management software developer Verity Inc. plans to move into the electronic forms space, announcing late Monday an agreement to acquire Cardiff Software Inc. in a cash deal worth approximately $50 million.
The deal will allow Verity, of Sunnyvale, Calif., to extend its search, classification and recommendation technologies into content capture, e-forms and business process automation, according to Verity executives.
The deal would allow Veritys software to not only search and categorize information in documents, but to track ties between the documents and the business processes they represent, officials said.
In addition, officials also said the acquisition will provide significant cross-selling opportunities into the companies respected installed bases.
Cardiff is based in Vista, Calif. The deal is expected to close within 30 to 60 days.