Hoover’s Inc. Thursday announced it has made a
significant investment in 10K Wizard Technology LLC, a provider of filings made with financial regulators.
Financial details was not disclosed.
Hoover’s, which is the operator of Hoover’s Online business portal, said it made the purchase to capitalize on 10K Wizard’s full-text search engine.
Hoover’s Online will integrate 10K Wizard’s
proprietary text search technology into several online areas, including
Securities and Exchange Commission searches, while 10K Wizard will
provide its user base with ready access to Hoover’s content and tools.
Further, Hoover’s will offer the 10K Wizard tools to its customers
through syndication.
Hoover’s Online additionally will become the exclusive advertising sales
and business development representative for 10K Wizard, and has acquired the
right to purchase the rest of the company.
10K Wizard currently deploys this technology through its Web site, which
offers free, full-text, real-time searches
of the SEC’s entire EDGAR database of
corporate financial information.
As part of the agreement, 10K Wizard is expected to develop more
technology tools to spider, index and search large bodies of information in
HTML and other formats.
The relationship is mutually beneficial, according to Martin Zacarias,
chief executive officer, 10K Wizard.
“This investment and strategic alliance will help us continue to build
and
grow our technological capabilities,” he said. “Our audience demographic is
similar to that of Hoover’s
Online — businesspeople who see SEC filings as a source of competitive
intelligence and insight.
“To the extent that each company can augment the
other’s high- quality business services and information, our users will have
the additional timely and reliable business intelligence that counts.”
