Autonomy Corp signs OEM pact with IBM

Infrastructure software developer Autonomy Corp (LON:AU) has signed an OEM (original equipment manufacturer) license agreement with IBM (NYSE:IBM) to add to its large customer base that features names like AOL, BBC, SEC (Security and Exchange Commission), FedEx, Ford, NASA, US Department of Homeland Security and Department of Energy and Coca-Cola.
Last month, Autonomy received an order for its e-discovery and compliance solutions with an initial value of approximately US$15 million and a total committed value of approximately US$25 million over the next few years. The company said the deal came from “outside the historically strong verticals” of the financial services and pharmaceutical industries.
Autonomy posted record revenues of US$194.2 million in Q1, while pre-tax profits also set new highs at US$85.3 million, marking a 47% year on year jump.

Shares in the company rose 2.6% on the news.