Autonomy buys Interwoven

Autonomy has paid $775 million (R7.9 billion) in cash to buy out rival player Interwoven, says Silicon Republic.

The acquisition will strengthen Autonomy's access to the worldwide legal and compliance industry through Interwoven's significant sales force with industry expertise. Both companies expect to achieve synergies of approximately $40 million (R410 million) per annum over the first year from completion.

Autonomy states the combination will extend its legal and regulatory usage by top-end customers and regulators and the e-discovery marketplace into the practices of the world's leading law firms, creating a larger combined market and a continuous chain through the entire litigation and risk management process.

Banque Centrale Populaire (BCP), one of the largest banks in North Africa, has selected Algorithmics to provide it with an enterprise-wide risk management solution, states Compliance Home.

The Algorithmics platform will capture accurate, fully integrated measures of risk at every level of the BCP Group, within a single, consistent methodology. A statement from BCP says the platform will also assist the bank in managing and allocating its risk capital more effectively.

“It was vital that we capture and measure all types of financial risk, to satisfy both our business objectives and regulatory obligations,” says BCP GM Mohamed Karim Mounir. “After an exhaustive evaluation of a number of systems, we chose Algorithmics because they could provide a full analysis of risk across our entire enterprise.”

Convergence will work with Optial to deliver an integrated audit, compliance and risk management solution focused exclusively on environmental, health and safety issues, reports Journalism.

“Our worldwide environmental, health, safety and social (EHS) consulting forces coupled with Optial's powerful software will be a valuable addition to the marketplace,” says Convergence president Cynthia Chiles.

Chiles goes on to add the next few years will be important for companies to remain effective and continue to improve their EHS performance with fewer resources. “Optial's EHS software solution is an excellent tool to support this objective,” she ends.