From what I gather I think that they are building some sort of visual tool for the easy munging of large data files (ie. converting semi/un structured data into some sort of structured form).

I would assume it would be some sort of GUI that captures the power and expressiveness of Perl in an easy-to-use interface.

Pretty curious on how they plan on doing that, since the problem is very fuzzy and can mean different things to different people.

(With their pedigree, I think the worst that can happen to them is an 'acq-hire'. Not a bad worst-case scenario ;)