Autonomy to Acquire Interwoven

Breaking news: http://www.autonomy.com/content/News/Releases/2009/0122.en.html

1/26 Update: According to the company:

• Interwoven stockholders will receive $16.20 in cash for each outstanding Interwoven share, representing a premium of 36.8% to the closing share price of $11.84 on January 21, 2009, and a premium of 36.2% to the average closing share price over the 30 days through January 21, 2009.

 • Aggregate consideration of approximately $775 million (assuming exercise of all vested in-the-money Interwoven share options), funded by an underwritten placing of ordinary shares (the "Placing"), a new revolving credit facility from Barclays and a portion of Interwoven and Autonomy's cash reserves.
• Post-closing Autonomy expects to have a cash balance of at least $75 million, assuming close in Q2'09

• The acquisition is expected to complete in the second quarter of 2009