Interwoven, Inc. and iManage, Inc. announced they have entered into a agreement to merge in a stock and cash transaction valued at $171 million. The two companies have a combined customer base of over 2500 companies. iManage’s strength in professional services and financial services complements Interwoven’s base in manufacturing and consumer goods. iManage will benefit from Interwoven’s presence in Europe and Asia Pacific, while Interwoven gains access to a network of over 150 partners, VARs, and systems integrators in North and Latin America. Both products have been developed with Java and J2EE. The combined companies plan to integrate iManage’s collaborative technology with Interwoven MetaTagger content intelligence server software, to improve the ability to personalize and find relevant content, and link iManage’s content repository with Interwoven OpenDeploy content distribution software, to distribute collaboratively developed documents and corporate knowledge. The new company will be named Interwoven and will be headquartered in Sunnyvale. iManage shareholders will receive $1.20 per share in cash and 2.0943 shares of Interwoven stock for each share of iManage stock. Following the expected closing in Q4 Interwoven shareholders are expected to own approximately 67% and iManage shareholders 33% of the combined company. The iManage product line is available today from Interwoven and can be purchased for an entry price of $75K. www.interwoven.com, www.imanage.com
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