Autonomy has just agreed to buy U.S. peer Verity Inc for $500M in cash to gain a dominant position in the information handling software market and boost earnings.
Autonomy said it was raising 153 million pounds via a fully-underwritten rights issue to help pay for Sunnyvale, California-based Verity which supplies search and process management software to 15,000 customers worldwide.
This is a strong move by Autonomy and one that should allow them to keep extending their lead in the market for corporate search software.
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