Interwoven, Inc. announced a definitive agreement to acquire privately-held Neonyoyo, a developer of wireless technology which delivers targeted XML content rendered appropriately, regardless of device type. This acquisition supports Interwoven’s strategy to accelerate time to wireless Web for its blue-chip customer base. Under the terms of the agreement, an aggregate value of approximately $70 million in Interwoven common stock and cash will be exchanged for the assets, liabilities and capital stock of Neonyoyo. This transaction will be accounted for as a purchase and is expected to be completed in the third quarter of Interwoven’s fiscal year 2000. The acquisition has been approved by the board of directors of each company and is subject to various closing conditions. Neonyoyo’s technology strengthens Interwoven’s product set by both enhancing and accelerating its wireless content management offering. Interwoven expects to make available products incorporating Neonyoyo technology in Q4, 2000. Neonyoyo was founded in 1999 by Vikram Nagrani, Arjun Khanna and Arun Chatterjee. The 20 employees, primarily engineers, will be integrated into the Interwoven organization as a separate wireless division, located in Austin, Texas. Vikram Nagrani, Neonyoyo founder and CEO, will become vice president and general manager of this newly formed division. Arjun Khanna and Arun Chatterjee will continue to spearhead the division’s technology development effort. www.interwoven.com
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