Open Market is selling its Folio search technology to NextPage in a deal valued at $6.6 million.
NextPage, which began licensing Folio in June 1999, exercised an option to purchase the technology, which enables advanced searching and navigation of large data files
The move is part of Open Market's previously announced strategy to divest noncore assets and focus on content management and delivery, says Open Market CEO Harland LaVigne.
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An additional capital infusion of $5 million will be coming to Open Market following a private placement of Series E convertible preferred stock, the company says.
Good morning! It's Tuesday, March 27, and this is Sandy Portnoy with CRN's E-Business Breakfast.
Foresight Has New Vision
Foresight, Columbus, Ohio, has decided to train its focus on TRM, otherwise know as trading relationship management. "Foresight's focus on TRM solutions is a natural evolution," says Robert Fisher, president and CEO.
The company targets large enterprises interested in recruiting and engaging small and midsize companies as trading partners.
Edgewater Technology Names Consulting VP
Joyice Gere joined Wakefield, Mass.-based Edgewater Technology as vice president of consulting. In this role, Gere will lead Edgewater's efforts to expand its presence in the Western United States.
Gere has 17 years experience in IT consulting and professional services. Most recently she was vice president of professional services at TEKsystems, Hanover, Md.
That's your E-Business Breakfast for Tuesday. If you'd like to tell us about your company's latest e-business solutions, drop me a note at sportnoy@cmp.com.
