Thursday, 24 January 2008

HP Acquires Exstream Software

Hewlett Packard(HP) said Wednesday 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.

Upon completion of the acquisition, Exstream Software --a portfolio company of American Capital Strategies Ltd --will be integrated into the Web Services and Software business unit within the Imaging and Printing Group (IPG) of HP.

“The combination of Exstream’s solutions and HP’s print software expertise will provide customers with a more comprehensive approach to delivering reliable and targeted business communications,” said Richard Troksa, chief executive officer and president, Exstream Software.

HP said that Exstream’s technology, when combined with it’s presence in document output management and printing market leadership, will help businesses design, manage and publish structured and unstructured content in a fully personalized manner via print and online.

“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.”

The acquisition is subject to customary closing conditions and is expected to close in the second quarter of HP’s fiscal year 2008. Financial terms of the transaction were not disclosed.