December 27, 2007 EMC Corporation, a provider of information infrastructure solutions, and Document Sciences Corporation announced that they have signed a definitive agreement whereby EMC will acquire publicly-held Document Sciences Corporation in a cash transaction valued at approximately $85,000,000. Document Sciences Corporation is a provider of document output management (DOM) software that facilitates highly personalized, multi-channel communications to customers, partners and suppliers. The acquisition complements and extends EMC's position in the transactional content management (TCM) marketplace, the
fastest-growing segment of enterprise content management.
The acquisition is subject to customary closing conditions, including Document Sciences' stockholder and regulatory approvals, and is expected to be completed in the first quarter of calendar year 2008. This transaction is not expected to have a material impact on EMC financial results in 2008.
Mark Lewis, President, Content Management and Archiving Division at EMC commented, "Core to delivering high-value transactional content management (TCM) solutions is a complete suite of technology, including high-volume, content-rich task processing, sophisticated capture, business process management, records management and archiving, as well as automated document output management. The proposed acquisition of Document Sciences would make EMC the first to offer all of these major capabilities in an all-in-one, integrated suite. Building on our recent commitment to deliver end-to-end solutions to solve real-world business problems, Document Sciences provides a tremendous advantage in addressing transaction-intensive applications such as loan origination, new account enrollment, wealth management, brokerage and claims processing. This gives our customers a significant competitive edge to increase customer loyalty and maximize business performance."
"We are pleased to enter into this transaction with EMC, which we believe provides our stockholders with an attractive value," said Jack McGannon, president and CEO of Document Sciences. "Since our inception in 1991, our vision has been to empower organizations worldwide with dynamic content publishing solutions to realize productivity benefits, reduce costs, and increase competitiveness. Today's announcement with EMC enables us to take this vision one step further - providing us with the financial and technology resources of a proven leader in information management to further cement our market leadership."
Upon completion of the acquisition, EMC intends to operate Document Sciences Corporation as a business unit within the EMC Content Management and Archiving division.
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