Business News
HP Targets High-growth Document Automation Market with Acquisition of Exstream Software
Wednesday 23. January 2008 - HP today announced that it has signed a definitive agreement to acquire Exstream Software, LLC, a privately-held leading provider of enterprise software that streamlines the creation and delivery of personalized documents and other communications materials.
Exstream is a portfolio company of American Capital Strategies, Ltd. (Nasdaq: ACAS). Financial terms of the transaction were not disclosed.
Exstreams technology, when combined with HPs presence in document output management and printing market leadership, helps businesses design, manage and publish structured and unstructured content in a fully personalized manner via print and online.
Upon completion of the acquisition, Exstream Software will be integrated into the Web Services and Software business unit within the Imaging and Printing Group (IPG) of HP.
“Businesses – whether a bank, healthcare provider or utility company – need to communicate relevant, personalized information to their customers through a broad range of channels,” said David Murphy, senior vice president, Web Services and Software Business, IPG, HP. “We expect that the acquisition of Exstream will allow HP to address a broader set of customers and be a strong leader in the fast-growing document automation market.”
“We are very happy to join with HP to accelerate our ability to help businesses around the world to efficiently develop and deploy personalized communications,” said Richard Troksa, chief executive officer and president, Exstream Software. “The combination of Exstreams solutions and HPs print software expertise will provide customers with a more comprehensive approach to delivering reliable and targeted business communications.”
The acquisition is subject to customary closing conditions and is expected to close in the second quarter of HPs fiscal year 2008.