EMC Corporation, Inc., a world leader in information storage and management, announced it has completed the acquisition of Documentum, Inc., a leading provider of enterprise content management (ECM). Under the terms of the definitive agreement announced on October 14, 2003, EMC issued approximately 115 million shares of EMC common stock for all outstanding shares of Documentum subject to final tabulation with EMC's exchange agent. EMC will operate Documentum as a division of EMC with headquarters in Pleasanton, California.
"EMC and Documentum share the same vision, focus, strategy and commitment to customers and by joining forces, our complementary products and significant resources will help customers maximize the value of their information assets at the lowest total cost of ownership, " said Joe Tucci, EMC's President and CEO. "Together, EMC and Documentum will continue to provide flexible, open solutions that integrate with the widest range of platforms, applications and storage environments, to ensure that customers have the broadest range of options to address their information storage and management needs."
The Documentum division of EMC is led by Dave DeWalt, Documentum's former President and CEO. DeWalt reports to Joe Tucci as Executive Vice President of EMC and President of the Documentum software division. "The continued, exponential growth of unstructured content, along with stringent requirements for corporate recordkeeping, is driving strong demand for both content management and intelligent storage systems," said DeWalt. "The combined technology, resources and expertise of EMC and Documentum enable us to deliver world-class products and solutions to address fast-growing requirements for end-to-end intelligent management of enterprise information."
Immediately following the announcement of EMC's intent to acquire Documentum, the two companies assembled cross-company and cross-functional teams to analyze and plan for every aspect of integrating Documentum into EMC. Key areas of integration include:
- General Documentum will operate as a separate software division of EMC, led by Dave DeWalt, Documentum's former President and CEO. The Documentum name, brand and products will all be maintained.
- Sales and Distribution The Documentum sales and distribution channels will operate independently from EMC. Documentum's partnerships, sales, marketing and services focus will remain unchanged.
- Research and Development Under the leadership of Dave DeWalt, the Documentum research and development team will continue to accelerate the delivery of enterprise content management solutions. As one company, EMC and Documentum are able to leverage their combined engineering resources and complementary product portfolio to deliver both best of breed products and solutions to solve customer's most pressing problems in the areas of information protection, message and content management, and intelligent data management and availability.
Documentum stockholders approved the acquisition on December 18, 2003, and the required regulatory approval processes have been completed.
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