EMC Nabs Document Sciences in $85M Buy
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EMC yesterday said it agreed to acquire Document Sciences, a provider of communications management software, for $14.75 per share in cash, a 79 percent premium to the stock's closing price on Wednesday.
The deal values Document Sciences at about $85 million.
With the acquisition, EMC expects to strengthen its presence in the transactional content management market. Document Sciences provides technology to automate and deliver personalized customer communication.
Document Sciences offers the xPression suite of document output management and customer communications solutions, which enables organizations to automate creating and delivering personalized multi-channel communications.
These can include contracts, high-volume relationship statements and customized marketing collateral. The solution integrates with enterprise CRM, contact management and ERP systems.
EMC does not expect the deal to have a material impact on its 2008 results, the maker of corporate data storage equipment said in a statement.
The deal is expected to close in the first quarter of 2008, it added.
On completion of the acquisition, EMC plans to operate Document Sciences as a business unit within the EMC Content Management and Archiving division, EMC said.
On Wednesday, shares of Document Sciences closed at $8.235 on NASDAQ while EMC shares closed at $18.96 on the New York Stock Exchange.