Electronic document management company Documentum Inc is to acquire Workgroup Management Inc of Oakland, California, one of its vertical market partners, on undisclosed terms. Workgroup is the company behind a forthcoming vertical market customization of Documentum’s core product line for the engineering industry, due to be announced later this month. It will manage engineering change notices for semiconductor manufacturers. Documentum has been concentrating on vertical markets sales for its document management technology over the last four years, beginning with the process industry in 1994, discrete manufacturing in 1995 and financial services in 1996. The company recently launched a customized module for swaps and derivatives in investment banks and brokerages. A recent International Data Corp report named Documentum as market leader in the electronic document market, with revenues of $36.9m and a market share of 14.3%.
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