TopicalNet Buys Lightspeed, Changes Name, Relocates
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As part of its strategy is to assemble an automated content acquisition, management, collaboration and delivery product for mid-market customers, Woburn, Mass.-based TopicalNet Inc. today announced that it has agreed to purchase the assets of LightSpeed Interactive Inc. of Pleasanton, Calif.
The deal is designed to combine TopicalNet's capability to automatically gather, understand and classify electronic content with the ReadyPortal portal platform (acquired from Wego Systems in June) and now Lightspeed's content management service.
Financial terms of the transaction were not disclosed. The new company will be named LightSpeed Software and corporate headquarters will be relocated from Woburn to San Francisco.
Lightspeed Interactive is the fifth company TopicalNet has acquired since April 2001. "This acquisition is the final piece of a puzzle we have been assembling for more than a year. We can now offer mid-market customers a complete solution for their vast amounts of electronic content. They will be able to gather their data, place it under management, publish and distribute it, collaborate or share, and finally measure and track content usage," said Ray Kingman, CEO of the newly named LightSpeed Software, Inc.
The company's goal is to combine Lightspeed Interactive's content management products with TopicalNet's XML-based search, classification/metadata, portal/collaboration and analytics technologies to allow customers to manage both internal and external content.
Customers of Lightspeed Interactive include Texas Instruments, Lexis/Nexis, Brookfield Homes, Siemens Medical and TRW. In addition to major organizations, more than 70 percent Lightspeed customers are system integrators or have reseller networks, which, the company reports, will allow it to broaden its market focus.
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