Verity Completes NativeMinds Acquisition; Releases K2 Enterprise 5.5; SLAC Selects Ultraseek

Mar 05, 2004

Verity Inc. has announced the completion of its acquisition of the intellectual property, certain customer agreements, and other strategic assets from NativeMinds Inc., a privately held software company and provider of integrated self-service solutions. The company has also announced the availability of K2 Enterprise version 5.5 and the Stanford Linear Accelerator Center selection of Ultraseek.

For an all-cash $3.8 million payment, Verity acquired NativeMinds' technology portfolio--an integrated set of tools that are designed to provide an interactive contact point for customer inquiries. It includes technology that manages the interaction between a customer and a vRep, or virtual representative; the vRep Management System (VMS) to track, measure, and improve a vRep solution; and a set of reporting and analysis tools to help assess performance, identify content opportunities and gather customer insight. Verity has also hired nine employees from NativeMinds' development, professional services and sales organizations. NativeMinds products will be added to the Verity portfolio and will be sold by the company's sales organization. Verity intends to provide further details on re-branding initiatives as well as service and maintenance programs shortly.

Verity has announced the availability of release 5.5 of its Verity K2 Enterprise (K2E) search, classification, and recommendation software. The latest version of the company's flagship product includes five new capabilities that are designed to enable intellectual capital management (ICM) system administrators to better monitor and manage their systems and users to locate or uncover information with greater ease, speed, and accuracy. The new features are: Advanced Query Analytics, that enable real-time analysis of how an ICM system is being used and performing; Event-Driven Indexing, to provide users access to new, time sensitive documents in real time; Session-Based Recommendations, to suggest relevant documents, experts or other entities based on the user's profile and most recent search activities; Query-Based Summaries, to assist users in identifying relevant content without opening the document; and Spelling Suggestions, to improve search results with alternate spellings.

Verity has also announced that the latest version of its downloadable Verity Ultraseek  enterprise search engine is being used by the Stanford Linear Accelerator Center (SLAC), a research facility funded by the U. S. Department of Energy and operated by Stanford University. There are approximately 300,000 documents on the external SLAC site and about 100,000 on its intranet. SLAC found the Verity Ultraseek search engine could integrate the content on the different sites, without requiring separate set-ups or equipment installations.