VirtualWorks and Language Tools Announce Merger

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BOCA RATON, Fla., April 5, 2016 /PRNewswire/ -- VirtualWorks Group Inc. ("VirtualWorks"), a leader in enterprise search and discovery, today announced that it has completed the transaction to buy Language Tools GmbH ("Language Tools"). 

Language Tools' expertise in all areas of computational linguistics and its natural language processing technologies significantly enhance search relevancy and provide a platform for big data intelligence and analytics.

The combined organization brings together best of breed core technologies in the areas of enterprise search, data management, text analytics, discovery techniques and analytics to enable the development of new and exciting next generation applications in the business intelligence space.

"We are incredibly excited about what this combined merger means to the future of our business.  The potential to analyze and make sense of the vast unstructured data that exists for enterprises, both internally and externally, cannot be understated.  Our underlying technology offers a sophisticated solution to extract meaning from text in a systematic way without the shortcomings of machine learning.  We are well positioned to bring to market applications that provide insight, never before possible, into the vast majority of data that is out there," said Erik Baklid, Chief Executive Officer of VirtualWorks.

Professor Franz Guenthner, CEO of Language Tools and a leading expert in computational linguistics, said, "This is a strategic merger of two industry leading and complementary technologies.  VirtualWorks' ability to gather data from any source, any where, on any device, coupled with Language Tools' ability to analyze and make sense of it all, puts our technology at the forefront of our industry and creates enormous potential for our business."

VirtualWorks is a leader in enterprise search, serving customers worldwide in the areas of retail, ecommerce, enterprise, healthcare, manufacturing, finance and social media.  For more information, visit www.virtualworks.com.

About VirtualWorks
VirtualWorks flagship product, ViaWorks, enables organizations to find corporate data quickly, easily, and securely regardless of where that data is located.  Founded in 2009, VirtualWorks sells its solutions both directly and through its worldwide partner network, and currently has customers throughout Europe and North America.  VirtualWorks is headquartered in Florida, with offices in New York, San Francisco, Oslo, and Stockholm.

About Language Tools
Language Tools offers sophisticated tools that enhance enterprise search through improved relevancy, and state of the art drill-down and suggest  technologies. The company's technologies are based on more than 40 years of research in linguistics, computational linguistics and computer science at a number of universities, including the University of Munich and the University of Paris.  Dozens of PhD theses and research monographs in finite state technology, lexical analysis, parsing, formal semantics, among others, have provided the theoretical underpinnings of the approach to linguistic analysis and extremely efficient information processing  programs implemented by Language Tools.  For more information, visit www.language-tools.com.

SOURCE VirtualWorks

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http://www.virtualworks.com