Will Integrate Leading Content Analytics Capabilities Across its Entire Suite of Solutions in Comprehensive ECM Strategy
As part of a strategy to help customers better understand, control and monetise their content, Open Text Corporation (NASDAQ: OTEX, TSX: OTC), the preeminent provider of Enterprise Content Management (ECM) software, today announced plans to integrate and expand the content analytics capabilities of Nstein Technologies in the Open Text ECM Suite, making Open Text the first vendor to make content analytics pervasive across an entire ECM suite of products. The plans will bring new content analytics capabilities to Open Text’s solutions, adding value for customers by helping them create powerful new ways to engage users, improve productivity and manage governance and e-discovery issues.
With the skyrocketing volumes of content in organisations today, customers need more intelligent analytics to identify relevant content. Open Text is meeting the demand in a comprehensive way with its acquisition of Nstein, April 1. With Nstein’s technology as part of the ECM Suite, customers gain a full-featured content analysis engine they can extend across their ECM environments, covering text-based content — regulated documents, email, social media, Web content, OCR-treated scanned images, and content in business systems, such as Microsoft, SAP and Oracle. As a result, customers can take advantage of increased content relevance in a variety of use cases for improved customer engagement in web and mobile applications, improved productivity of project teams, or more cost efficient legal review of content for e-discovery.
Open Text’s first integration of Nstein technology will focus on user experience in Web applications by integrating content analytics with Open Text’s Vignette Content Management system, as well as its Media Management solution. Open Text will also integrate the technology with its Enterprise Library, the core repository layer for storing, securing and retaining content assets in the ECM Suite. The content analytics capabilities will enhance the existing information retrieval capabilities provided by the native search inherent to the ECM Suite. Like search, content analytics will become a shared service available to each Open Text ECM Suite application. These integrations will be completed over the next 12 months. Going forward, the product formerly known as Nstein Text Mining Engine will be marketed as Open Text Content Analytics.
Nstein’s technology helps organisations tap into, analyse, relate and make better use of the vast stores of content across their systems. Using patented technology, Nstein’s software creates a “semantic fingerprint” for an organisation’s content to unlock its inherent value, making it more findable, visible, understandable, organised and analysis-ready. Nstein complements Open Text’s heritage as a pioneer in search technology – Open Text was founded from a University of Waterloo research project that formed the basis for the Internet’s first search engine technology.
“Companies need better ways to analyse, personalise, and synthesise unstructured content and that’s the technology and expertise Nstein and its people add to Open Text,” said Eugene Roman, Chief Technology Officer of Open Text. “By integrating Nstein’s technology into our ECM Suite, we’ll deliver more powerful solutions that will help our customers gain more value from content, and even create new revenue streams both inside the corporation and throughout their networks of stakeholders.”
Nstein’s solutions, which play a key role in market intelligence gathering, research and other areas, have been sold primarily in market segments such as the media and publishing industry, and government. But according to Roman, Open Text plans to open up new markets and applications for Nstein’s technology because of the range of customers Open Text serves worldwide. At the same time, Nstein’s publishing customers will add to Open Text’s existing list of prominent media and entertainment customers.
Open Text sees the opportunity to expand the use of Nstein’s technology in many areas, user engagement being one general category where content analytics can be rapidly expanded in many directions. Open Text, as the market leader in Web content management, will add content analytics to its WCM solutions to help its customers create more engaging websites. Similarly, content analytics can play a key role in delivering the best and most compelling experience to mobile users. Open Text will extend content analytics in its recently released Open Text Everywhere mobile ECM offering. Content analytics is also important in social media environments to analyze the interactions between users and expose them to more relevant communications. Nstein’s advanced text mining capabilities are uniquely suited to a social media world where deciphering emergent short-hand grammar and abbreviations is critical.
Open Text envisions expanding the use of content analytics in its compliance and litigation readiness capabilities, supported by its Enterprise Library repository for archiving, retention management and storage optimisation. Content analytics can, for example, help customers identify relevant content for archiving. In the area of record management, records managers can depend on content analytics to automatically suggest which content assets end users should file as official records and where, based on the classification technology. Finally, Content Analytics will greatly improve the efficiency of content collection and review for e-discovery and audit purposes, helping Open Text advance solutions that will control the expanding costs and risks in these areas.
Going forward, Open Text will retain Nstein’s Montreal headquarters as its global development centre for content analytics, linguistics and semantic technology.
“It’s fitting that Canada’s largest software company now has an expanded presence in Quebec and has established Montreal as a key development centre,” said Luc Filiatreault, former President and Chief Executive Officer of Nstein. “We’re excited about the opportunity to continue to develop and find new applications for our technology, and we look forward to working with the larger Open Text team on creating innovative new solutions.”
Filiatreault also emphasised that, as part of Open Text, Nstein customers will benefit from access to an expanded ECM solutions portfolio and industry expertise, backed by the industry’s global leader in ECM. Nstein customers will also benefit from Open Text’s solutions and partnerships with SAP, Microsoft and Oracle.
Open Text will continue to support Nstein’s products, including previous versions of its content analytics, Web content management and digital asset management solutions. Open Text has a long history of successfully supporting acquired products and services, and is committed to the Nstein installed base.
About Open Text
Open Text, the pre-eminent enterprise content management software solutions company, helps organisations manage and gain the true value of their business content. Open Text brings two decades of expertise supporting 100 million users in 114 countries. Working with our customers and partners, we bring together leading Content Experts to help organisations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness. For more information, visitwww.opentext.com.
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on the Open Text’s current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. Open Text’s assumptions, although considered reasonable by the company at the date of this press release, may provide to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see the Open Text’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, Open Text disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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