Interwoven Growth

System

http://biz.yahoo.com/e/040915/iwov8-k.html

Does anyone know what this space was used for and why it is no longer needed?

"On September 9, 2004, Interwoven Inc. ("Interwoven") and Ariba, Inc. ("Ariba") entered into an amendment of the Amended and Restated Ariba Plaza Sublease dated August 6, 2001 between Ariba and Interwoven. Upon effectiveness of this amendment, which is subject to customary closing conditions, including landlord consent, Interwoven will relinquish its rights to occupy approximately 89,000 square feet of currently unoccupied space and will pay Ariba approximately $12.8 million (subject to reduction if customary consents are delayed). Interwoven will be relieved of its obligation to pay rent and operating expenses on that abandoned space for the remaining term of the sublease, which ends July 31, 2007."

nipper

Back in 2000 when IW moved to that building, there were 4 full floors and lots of room for growth. Would not surprise me
to see that drop to 1 or 2 floors max.

Not unlike a lot of the valley, there is a plethora or unoccupied office space.


That begs the question, is a plethora more than a slew ?

Andy