FileNet to acquire content compliance provider

FileNet Corp. signed an agreement to acquire Yaletown Technology Group Inc., a provider of content compliance software, in an all-cash transaction valued at about $11 million, FileNet announced today. The transaction is expected to close in early October.

FileNet of Costa Mesa, Calif., will complement its records management product with Vancouver, Canada-based Yaletown's records crawler product. Working in conjunction with FileNet records manager and email manager suites, records crawler can scan Microsoft file servers to examine documents users create and automatically declare only those documents as records that meet pre-set business rules.

Records Crawler is designed to draw on the rules established in FileNet's Records Manager's File Plan.

FileNet and Yaletown Technology Group have been marketing an integrated e-mail management offering through an original equipment manufacturer relationship, offering customers e-mail management capabilities integrated with FileNet Records Manager and Content Manager repository.

Yaletown Technology Group is a privately owned corporation that specializes in delivering critical content compliance solutions. It has about 40 employees in development, sales and professional services, who are expected to be retained as FileNet employees.