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FileNET Acquires eGrail For $10M

FileNET Corp. Tuesday said it has signed an agreement to purchase Web content management technology from eGrail Inc. for $10 million in cash.

The buyout is expected to pad next generation Enterprise Content Management (ECM) platforms

Through its own channels and ValueNET Partner network, FileNET makes solutions that allow customers, business partners, suppliers and employees to engage in business processes and exchange relevant content.

Founded in 1997 and based in Bethesda, Md., eGrail has developed a next-generation Web content management system. The company serves customers in numerous industries including communications, insurance, government, medical and publishing.

"With the addition of the eGrail product line, FileNET is immediately able to offer a sophisticated, yet easy-to-use, Web content management solution to support our vision of extended Enterprise Content Management," said FileNET chairman and CEO Lee Roberts.

Costa Mesa, Calif.-based FileNET says the eGrail product line is now available and supported through its global sales and professional services organizations.

"With today's announcement, we believe we are the only company that can provide Document Management, Image Management, Web Content Management, Business Process Management and Enterprise Application Integration as part of an extended ECM solution. We also expect to make additional announcements in the coming months that further extend our capabilities across this broad market," said Roberts.