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Interwoven, iManage to merge in US$171m deal

Interwoven, iManage to merge in US$171m deal

Six months after entering a reseller deal together, content management vendors, Interwoven and IManage, are merging their businesses to broaden their offerings to customers.

The two companies announced a $US171 million stock and cash deal, last week.

Vice-president of marketing and business development for collaborative content management vendor iManage, Dan Carmel, said the merger was a natural progression from the companies' reseller agreement made earlier this year.

Under that deal, iManage sold Interwoven's WorkSite MP Suite, including document management, Web collaboration, workflow and portal applications, to iManage customers who wanted products that iManage didn't sell directly.

Customer demand for products made by the companies helped inspire the merger, Carmel said.

"Interwoven saw the opportunity here and the excitement on the part of their customer base ... and it only made sense with customers demanding (the complimentary products) to consider a merger," he said.

Interwoven will keep its name and remain at its Sunnyvale, California, facility after the deal was completed, probably by November, Carmel said.

The two companies had about 2500 customers between them with "very little overlap," he said.

Vice-president of marketing for Interwoven, John Bara, said the merger is well balanced because his company brings strength in content management products, while iManage is strong in collaboration and document and e-mail management products.

"The enterprise market, we see over and over ... is seeking a tightly integrated content management suite," he said.

President and CEO of iManage, Mahmood Panjwani, said the reseller agreement already in place between the companies had shown "how our teams and products are aligned, and it is a natural progression to unite."


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