Stratify Acquired by Iron Mountain
April 6, 2008
Late in 2007, Iron Mountain acquired Stratify (formerly Purple Yogi). With the wave of acquisitions building in the search and content processing sector, Stratify is out of play.
In 1999, Purple Yogi was one of the first companies to discover meaning and generate rich indexing from documents. After an infusion of investment, Purple Yogi repositioned itself as Stratify and offered “intelligence at a glance”. By 2005, Stratify was finding success in the legal market, one of the hottest niches for search and content processing vendors. Litigation generates massive amounts of content, and law firms have shown greater willingness to invest in technology.
The Iron Mountain deal for the privately held Stratify was valued in the $160 million range, and Stratify’s knowledge based system and need for human interaction with the system add to Iron Mountain’s arsenal of storage and content services. More information about Stratify appears at www.stratify.com.
Stephen Arnold, April 6, 2008
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