Verity Inc. has completed its acquisition of Cardiff Software Inc., and announced that Softlab has selected Verity K2 Enterprise. Cardiff, a privately-held developer of technology that enables the capture and automation of dynamic business information, was acquired for an aggregate purchase price of approximately $50 million in cash after adjusting for Cardiff's net cash balance as of the close of the transaction.
The blending of Verity and Cardiff's technologies is intended to result in software that spans the content lifecycle from its origin with content capture and eforms, its movement with business process automation, and its use via search, classification, and recommendation capabilities. Although the Cardiff corporate brand will be discontinued, Verity will retain the product names TeleForm, LiquidOffice, LiquidCapture, and TeleForm MediClaim. Support and maintenance services for existing Cardiff customers will remain in place. Work is underway to enhance existing Verity and Cardiff software as well as to identify new product opportunities. Verity expects to provide details on product portfolio changes and potential additions shortly.
Verity Inc. has also announced that Softlab, a German-based IT consulting and systems integrations company that is part of the BMW Group, has selected Verity K2 Enterprise (K2E) advanced search, classification, and personalization software to access, evaluate, and organize the content in its content repositories. Softlab focuses on business and technology areas critical to the future of the banking, insurance, telecommunications, and manufacturing industries, including Customer Relationship Management (CRM), Supply Chain Management (SCM), Business Intelligence (BI), Enterprise Application Integration (EAI) and IT services.
Softlab plans to roll out Verity K2E's taxonomy creation and management capabilities to other data areas that remain to be indexed and extend the use of the software's social networking functions to link project managers to documents and to the people who created them. Softlab also believes that Verity's Parametric Selection, which searches repositories based on user-set definitions, will be effective for the firm's personnel. In addition, Softlab plans to implement Verity Data Discovery Program, a new Professional Services offering that is designed to help identify and eliminate outdated files in content repositories. Until recently Softlab operated several isolated intranets by country and practice area. The combination of a new content management system and Verity K2E software allowed the company to eliminate the different domains and operate one multi-faceted site. In addition, Softlab has extended the Verity K2E capabilities to the intranet of Nexolab, a Softlab Company specializing in e-consulting for the automotive industry.