Interwoven Announces Acquisition of Scrittura

Aug 19, 2005

Interwoven, Inc., provider of Enterprise Content Management (ECM) solutions for business, announced that it has acquired Scrittura, a provider of document automation technology and straight-through-processing for the complex non-exchange based trading operations of financial services institutions.

Under the terms of the agreement, Scrittura shareholders will receive initial cash consideration of approximately $16.3 million and up to $2.0 million of additional cash consideration if certain revenue and operating contribution goals are achieved by December 31, 2005. In addition, Interwoven will assume certain Scrittura stock options in the acquisition. The Interwoven OTC Derivatives solution is based on the acquisition to address a critical need within the market for non-exchange based trading. The Interwoven OTC Derivatives solution is available now.