Insightful Corporation Sells InFact
August 02 2007 - 4:05PM
Business Wire
Insightful Corporation (NASDAQ: IFUL), announced today the sale of
its InFact search technology and associated intellectual property
rights to Hypertext Solutions Inc. for $3.65 million in cash.
Hypertext is a Seattle-based startup company focused on making
information on the web more �intelligent.� The transaction closed
today. �Our move to sell the InFact technology enables us to focus
on accelerating the growth of our S-PLUS product line and our Data
Analysis business, which grew 14% during the first half of 2007 as
compared to the first half of 2006,� said Jeff Coombs, President
and CEO of Insightful Corporation. �We believe we are well
positioned to drive additional growth in the predictive analytics
space, and are currently investing heavily to deliver an
increasingly enterprise-scalable platform and a series of
high-value solutions targeted at the life science and financial
services industries.� Insightful will continue to support its
current InFact customers, having received a support license to the
InFact technology as part of the transaction, but will not be
licensing the InFact product to new customers. Also as part of the
agreement, Hypertext employed certain Insightful employees who were
previously members of the InFact team. �We are gratified to have
created value for our stockholders through the hard work of our
employees, in particular, Giovanni Marchisio, who remains with us
as our Vice President of Research and Development,� said Coombs.
�This sale marks the culmination of our efforts to explore multiple
strategic alternatives for InFact.� At the beginning of 2007,
Insightful integrated its Text Analysis (InFact) product line more
closely with its Data Analysis business, no longer treating Text
Analysis as a separate segment. The company also announced at that
time that it was no longer projecting significant revenues for the
InFact product line. A gain will be recorded in Insightful�s third
quarter financial results for the amount of the purchase price less
the direct costs of the transaction. About Insightful Corporation
Insightful Corporation (NASDAQ: IFUL) is a provider of predictive
analytics and reporting solutions. Insightful products S-PLUS�,
Insightful Miner� and S-PLUS� Server allow companies to perform
sophisticated statistical data analysis, data mining and create
high-quality graphic reporting from numeric data. For 20 years
Insightful has been delivering industry-leading, high-ROI solutions
to thousands of companies in financial services, life sciences,
biotechnology, telecommunications, and manufacturing, plus
government and research institutions. Headquartered in Seattle,
Insightful has offices in New York, North Carolina, France,
Switzerland, and the United Kingdom, with distributors around the
world. For more information, visit www.insightful.com, email
info@insightful.com or call 1-800-569-0123. Note to Investors About
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