Verity has purchased US start-up, Cognisoft, to kick-start its plan to deliver turnkey applications for use with its database search engine.
The company, which generated $30 million in revenues last year, has purchased Cognisoft and its 20 staff for $10 million in cash and plans to take the hit in its fiscal third quarter, which ends on 28 February.
Ed Gordon, Verity?s UK managing director, said: ?The aim of the purchase was to accelerate the delivery of applications to market. We have more under development, but Intelliserve will be the first.?
Those in the wings include packages tailored for the financial community, which will search for specific mergers and acquisitions data, and another for sales people to build up-to-the-minute profiles on rivals.
As a result, Intelliserve will be housed in a newly-formed information applications business unit, headed by David Weld, Cognisoft?s former chief executive. He, like his four other co-founders, were key members of the Microsoft Network development team, but left to set up Cognisoft in April 1996.
Intelliserve is a 'load and go' application for Intranets that enables users to define the information and sources of information they are interested in. The program then automatically downloads the relevant data to their desktops as it becomes available. In the past, users had to develop their own applications with a toolkit supplied by Verity.
The aim is to integrate Intelliserve into Verity?s Search 97 offerings, aimed primarily at Intranet and Internet users, and a Windows NT version of the product is due to go into beta in February for release in the middle of the year. Other platforms will also be supported over time.
Although Verity currently generates about 60 per cent of its revenues directly, it is gearing up to move to a more indirect model to increase volume sales.
It is currently in discussions with P&P and Stream in the UK about selling its Search 97 Personal for Exchange and Search 97 Server for Exchange, which were released in December.
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