“The Wall Street Journal” reports that Microsoft has signed a letter of intent to buy the Israeli text analysis company.
Microsoft Corp. (Nasdaq: MSFT) has signed a letter of intent to acquire Israeli text analysis company Equivio for $200 million, a person familiar with the matter has told “The Wall Street Journal.”
The deal has not yet been finalized. Both Equivio and Microsoft declined to comment when contacted by “The Wall Street Journal.”
Equivio develops text analysis software that can group together relevant texts from large amounts of documents, including emails and other organizational social and collaboration networks, using machine learning algorithms. The algorithms generalize samples of texts marked as relevant to the issue at hand to apply the sorting logic to groups of texts, such as legal documentation.
The technology is already in use by organizations providing litigation support services to law firms and corporate legal departments trying to extract relevant data, such as legal contracts, from massive amounts of documents.
Founded by CEO Amir Milo, VP Engineering Yiftach Ravid and VP Marketing and Business Development Warwick Sharp, Equivio is based in Rosh Ha’ayin, northeast of Tel Aviv.
Equivio’s clients include the US Department of Justice, the Federal Trade Commission, KPMG and Deloitte.
Published by Globes [online], Israel business news – www.globes-online.com