Vignette to offer more robust enterprise content management software
Austin, TX — March 1, 2004 — Vignette Corp. today announced the completion of its acquisition of privately held Tower Technology Pty Ltd., an enterprise document and records management, imaging and workflow vendor.
Vignette said the Tower Technology products are immediately available with its portfolio. The combined suite offers portal solutions with enterprise content management, giving customers the ability to address risk and compliance management-related initiatives for Sarbanes-Oxley 302 and 404, HIPAA, SEC 17a4, DoD 5015.2, EPA, ADA, GLB and others, according to the provider.
Under the terms of the agreement announced January 22, 2004, Vignette paid approximately $125 million for Tower Technology, composed of $45 million in cash and approximately 29.8 million shares of Vignette stock. The Tower Technology transaction is the fourth acquisition Vignette has completed in the last 16 months. In November 2002, Vignette acquired the intellectual property of Revenio Inc., which is incorporated into Vignette Dialog; in December 2002, Vignette acquired portal leader Epicentric Software; and in December 2003, Vignette acquired leading collaboration vendor Intraspect Software.
Vignette also announced today the general availability of three solutions based on Tower Technology products. Vignette Integrated Document Management is a document, record and case management system for capturing and managing virtually all forms of unstructured business information, including images, forms, computer-generated reports, statements and invoices, office documents and e-mail.
Vignette WebCapture provides businesses with the ability to capture and aggregate online transactions and to automatically create a permanent, unalterable visual transaction log and audit trail. Vignette also is shipping a comprehensive records management solution that helps eliminate paperwork, enable collaborative casework and compliance initiatives based on the Tower Seraph product, which is certified as DoD 5015.2 compliant.
According to a brief written by Connie Moore of Forrester Research, the document imaging market (which is Tower's core competency) is growing at a 10 percent compound annual growth rate (CAGR) through 2006 and will play a significant role in Vignette's ability to address the ECM market in its entirety.
Geisinger Health Systems said it is interested in learning more about a combined offering from a single vendor that supports the complete life cycle of their enterprise information. "With over two million patients relying on Geisinger Health Systems for a full continuum of care, we are very focused on carefully and securely managing our patient records, navigating the complex compliance and regulatory environment of healthcare providers, and conducting our business as efficiently as possible," said Dave Macko, associate vice president of Information Technology at physician-led Geisinger Health Systems. "Tower Technology has helped us automate and streamline very paper-intensive processes, so we are eager to explore how the combined strengths of Vignette's and Tower's information management and delivery solutions will further help us increase the quality of patient services, while at the same time continuing to manage costs."
