AUTONOMY yesterday continued a run of contract wins by announcing a “significant agreement” with Euronews for its Intelligent Data Operating Layer (Idol) software.
The firm also said it has entered into a similar agreement with an unnamed US hedge fund.
The announcement to supply Euronews – an international news channel with 335m viewers throughout Europe – is its eighth contract win of the year.
Autonomy has already announced deals with Ahold, Safeway, US insurer Allstate, US telecoms group Verizon, a “seven figure” deal with an unnamed Japanese group and another contract with a US law firm.
Autonomy has seen its shares fall from £19.75 in June to £14.24 yesterday, after a number of analysts turned bearish on the stock.
It’s shares closed 2p lower at 1,478p yesterday.
In October the firm said it would cut its full-year revenue guidance by about three per cent after weaker-than-expected demand, sending its shares down 16 per cent.
Idol is a “smart” programme that is able to analyse and index video content, allowing users to, for example, easily search for specific phrases or incidents in long video files.