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Autonomy counts the cost of Sarbox
Who says that Sarbox is onerous? Well FTSE 250 search technology business Autonomy is hoping that a lot of people are banging that particular drum. It has snapped up a US business specialising in tools that help deal with compliance. Autonomy paid $375m (£187.5m) for Zantaz, which provides email search and archiving services for large businesses. The market is expected to expand, with US federal rules of civil procedure recently changing to require companies to submit information to courts within 90 days, TS’s fellow hacks reported.
Autonomy chief executive Mike Lynch said: ‘Regulatory requests to companies used to happen once in a blue moon; now they are happening daily.’ It seems a bit rich that Autonomy is set to gain after quitting its US listing several years ago due to the weighty cost burden of jumping through Sarbox’s internal control hoops, but you’ve got to go where the money is, TS supposes.
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