By Lisa Kerner
Charlotte, N.C., Dec. 27 - EMC Corp. agreed to acquire Document Sciences Corp. in a cash transaction valued at about $85 million, or $14.75 cash per share.
The acquisition is designed to complement and extend "EMC's position in the transactional content management (TCM) marketplace, the fastest-growing segment of enterprise content management," according to a company news release.
The merger is expected to be completed in the first quarter of 2008 and is not expected to have a material impact on EMC's 2008 financial results.
Document Sciences will operate as a business unit within the EMC content management and archiving division.
"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," Mark Lewis, president of EMC's content management and archiving division, said in the release.
"This gives our customers a significant competitive edge to increase customer loyalty and maximize business performance," Lewis added.
Document Sciences is a provider of customer communications management solutions based in Carlsbad, Calif.
EMC, located in Hopkinton, Mass., develops and supports information infrastructure technology and solutions.
| Acquirer: | EMC Corp.
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| Target: | Document Sciences Corp.
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| Announcement date: | Dec. 27
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| Transaction total: | $85 million
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| Price per share: | $14.75
|
| Expected closing: | First quarter of 2008
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| Stock price of target: | Nasdaq: DOCX: $8.24 on Dec. 26
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