rubble88 - 1:18 am on Nov 14, 2002 (gmt 0)

Enterprise business to Verity for $25 million in cash.

"The sale of our enterprise search business to Verity puts Inktomi in a much stronger financial position while enabling the company to apply all its resources on a growing market in which it has leading technology, distribution and marketing services," said David Peterschmidt, president and CEO of Inktomi. "In addition, Verity will provide continued product development and support, and we are pleased to offer our more than 2,500 enterprise search customers a migration path to advanced offerings from Verity, the industry leader in enterprise search."

Full-News Release [inktomi.com]