Autonomy keeps pace with spate of big contract wins

Steve Dinneen
Follow Steve
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.