Autonomy purchases Sarbox IT firm Zantaz
Autonomy makes another foray into the US market with purchase of email search and archive provider, as new Sarbox regulation looms
FTSE250 search technology business Autonomy has purchased a US business
specialising in tools that help deal with Sarbox compliance and other types of
regulation.
Autonomy has paid $375m (£186m) for Zantaz, which provides email search and
archiving services for large businesses. The market is expected to expand, with
US federal rules of civil procedure recently changing to require companies to
submit information to courts within 90 days,
reports the
FT .
Autonomy chief executive Mike Lynch said: ‘With the federal rules change
coming in at the beginning of the year, we could see that archiving would become
a big market. Regulatory requests to companies used to happen once in a blue
moon; now they are happening daily.’
Autonomy itself quit its US listing several years ago due to the onerous cost
burden of meeting Sarbox compliance.
Further reading:
Profile: Sushovan Hussain, group CFO of
Autonomy
