Interwoven to Acquire Discovery Mining

Interwoven announced that it has entered into a definitive agreement to acquire Discovery Mining, Inc., an eDiscovery provider to professional services firms and corporations. Discovery Mining is a software-as-a-service solution for processing, reviewing and producing massive volumes of electronic data. Under the terms of the agreement between Discovery Mining and Interwoven, Interwoven will pay approximately $36 million in cash for all outstanding shares of Discovery Mining and vested stock options, and assume certain existing employee stock options. The acquisition of Discovery Mining extends Interwoven's offering by adding a service for managing eDiscovery. Discovery Mining's eDiscovery service is optimized for the processing and review of electronic data. The service features capabilities for accelerated review, including concept searching, clustering, analytics and email filtering. While the acquisition is expected to be completed in the third quarter of 2008, the transaction is subject to customary closing conditions. http://www.interwoven.com/