Interwoven

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Interwoven Incorporated
Type Subsidiary
Industry Software
Founded Sunnyvale, California (1995)
Headquarters San Jose, California, U.S.
Key people Joe Cowan, CEO and Director
Max Carnecchia, President
John Calonico, CFO
Rafiq Mohammadi, CTO
Products Content management system
Revenue $225.7 million USD (2007)
Employees Ca. 750
Parent Autonomy
Website promote.autonomy.com

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, which in turn was acquired by Hewlett-Packard in 2011. The Interwoven and Autonomy product lines became known as HP Autonomy.

Products and customers

The company produces a content management system called TeamSite, which is designed for creating complex intranet and Internet web applications. 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, Foreign Affairs and International Trade Canada, 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 substantial percentage of the company's revenue came from document management for law firms and financial services. It has system integration and marketing partners (including Accenture, Deloitte and IBM) as well as development and technology partners (including Adobe, Sapient, EMC, Microsoft, SAP AG and Sun Microsystems).

Some content management competitors included, Sitecore, SDL Tridion product suite, FatWire with its FatWire Content Server solution (now: Oracle WebCenter Sites after acquisition of FatWire in 2011), 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 (Documentum acquisition), Xerox DocuShare, IBM FileNet, Oracle Corporation (Oracle Content Management via Stellent acquisition), Microsoft SharePoint, Day Software (bought by Adobe Systems on July 28, 2010), Hyland OnBase, Broadvision and Drupal.

History

The company was founded in 1995 in California by Singaporean 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.[1][2] In its private startup phase the company was backed by Foundation Capital,[3] Draper Fisher Jurvetson,[4] Accel Partners and other venture capital co-investors including Gary Kremen.[5]

On October 8, 1999 Interwoven had their initial public offering (IPO) on NASDAQ with Credit Suisse First Boston as the lead underwriter.[6] 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 did not disclose connections between the underwriters and other investors and customers of Interwoven.[7][8]

Dot-com boom

In the years of the dot-com bubble the company offered huge hiring incentives, in order to compete with other startup companies in Silicon Valley. In 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.[9] 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 publicity.[10][11][12]

Sale

On January 21, 2009, Interwoven announced it agreed to be acquired by Autonomy Corporation, based in England.[13] Autonomy estimated the consideration at $775 million [14]

The acquisition was finalized on March 17, 2009.

HP bought Autonomy on August 19, 2011.

References

  1. ↑ Innovation Magazine Article with Encentuate Founder
  2. ↑ Encentuate : Team
  3. ↑ Foundation Capital
  4. ↑ Draper Network | Draper Fisher Jurvetson
  5. ↑ Kieren Mccarthy (August 13, 2006). "The battle for the sex.com domain name". Taipei Times. Retrieved October 18, 2013. 
  6. ↑ Press Releases - Interwoven - Press Releases
  7. ↑ Interwoven, Inc. - Securities Class Action
  8. ↑ Court Denies Interwoven Motion To Dismiss Securities Suit - 03/26/2003
  9. ↑ "Wired 8.04: Must Read". Wired. 
  10. ↑ Brian Caulfield (June 15, 2000). "Recruit or Die: How Growing Firms Are Waging the War to Fill Empty Seats". Internet World. Archived from the original on November 21, 2004. Retrieved October 18, 2013. 
  11. ↑ From Z3's to Charity Donations
  12. ↑ Anni Layne (May 2000). "Don Campbell". Fast Company. Archived from the original on July 7, 2003. Retrieved October 18, 2013. 
  13. ↑ "Interwoven Announces Definitive Agreement to be Acquired by Autonomy". Press release. January 21, 2009. Archived from the original on January 25, 2009. Retrieved October 18, 2013. 
  14. ↑ "Autonomy Corporation Plc announces agreement to acquire Interwoven, Inc. for and aggregated consideration of US$775 million". Press release (Autonomy). January 22, 2009. Archived from the original on January 30, 2009. Retrieved October 18, 2013. 

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