Autonomy wins big Japan deal

 
Steve Dinneen
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Cambridge-based technology firm Autonomy yesterday announced it has entered into its largest ever licencing agreement in Japan.

The deal, involving its Intelligent Data Operating Layer (Idol) video software, is said to be worth “seven figures” but the firm declined to reveal the exact value.

The FTSE 100 company also said it has added North American supermarket group Safeway to its list of clients in what it described as a “significant deal,” also involving the licensing of Idol.

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.

In October the firm said it would 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.

The firm’s stock dropped a further 3.35 per cent in trading yesterday.

Idol is a “smart” program 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.

The group will release its fourth quarter results next month.