Autonomy reports Merrill Lynch deal; raises outlook

Autonomy reports Merrill Lynch deal; raises outlook

UK-based Autonomy Corporation has signed US financial services firm Merrill Lynch to its information management software. News of the deal comes as the vendor raises its third quarter revenue guidance.

The vendor's shares were up 10.20% to 513.75 pence in afternoon trading on news of the revised guidance.

In a short statement released this morning Autonomy says Merrill Lynch has signed an deal to deploy its group products. The agreement with the US bank is based on software licence and maintenance fees.

The vendor is also reporting a deal with The Financial Times for its IDOL (Intelligent Data Operating Layer) server.

In a separate trading update Autonomy says ot expects to report record third quarter results "with revenues ahead of the top end of analyst estimates and a consequentially strong profit before tax performance".

Cambridge-based Autonomy lists Lloyds TSB, Reuters Citigroup, ABN Amro, Deutsche Bank, Nomura, the US Securities and Exchange Commission and the New York Stock Exchange among its clients.

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