HP Targets High-growth Document Automation Market with Acquisition of Exstream Software
Exstream is a portfolio company of American Capital Strategies, Ltd. (Nasdaq: ACAS). Financial terms of the transaction were not disclosed.
Exstream’s technology, when combined with HP’s presence in document output management and printing market leadership, helps businesses design, manage and publish structured and unstructured content in a fully personalised 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, personalised 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 personalised communications,” said Richard Troksa, chief executive officer and president, Exstream Software. “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.”
The acquisition is subject to customary closing conditions and is expected to close in the second quarter of HP’s fiscal year 2008.
About Exstream Software
Ranked among the world’s fastest growing technology companies, Exstream provides enterprise software solutions for businesses around the world to streamline document creation processes and produce higher quality, relevant communications of all types for delivery through print/mail and online channels. Customers in many industries benefit by getting communications to market as much as 85 percent faster, reducing document production costs up to 80 percent and as much as tripling customer response.
About HP Inc.
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