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Autonomy shares soar
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January 11, 2001: 11:28 a.m. ET
Anglo-American search systems maker's shares jump on winning Sonera pact
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LONDON (CNNfn) - Shares of search systems provider Autonomy rose 24 percent Thursday, as investors digested a contract win with Finland's Sonera and other recent upbeat news.
The Anglo-American company, which provides systems to sift through mounds of information in corporate databases or on the Internet, disclosed a pact Thursday allowing the Finnish telecom company to use Autonomy technology.
Autonomy didn't indicate the value of the pact, but one person with knowledge of the matter said it is in the hundreds of thousands of dollars.
In London trading, Autonomy (AU-) shares jumped 24 percent to 1,985 pence Thursday afternoon. 
John Segrich, an analyst with Goldman Sachs in London who has a "buy" rating on Autonomy, said the Sonera deal underscores the latest in upbeat news at the company.
On Monday, Autonomy announced a reselling agreement with U.S. technology powerhouse IBM, and late last week, Autonomy CEO Mike Lynch issued a statement dispelling concerns about whether the company is suffering the same woes as others in the tech sector.
"You take those three data points together and you start to put together a picture of a company that's performing very well," Segrich said. "We're not seeing the slowdown at Autonomy that other companies are facing."
Autonomy is the latest in a handful of software companies that have delighted investors. Germany's SAP, the largest European software firm, announced earlier this week a 27-percent jump in sales in its latest quarter, leading to a three-day string of market gains adding more than 25 percent. 
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