Palo Alto, Calif. — Considering the recent burst of merger and acquisition activity in the content management space, Palo Alto, Calif.-based Hewlett Packard’s decision to acquire Lexington, Ky.-based Exstream Software LLC is hardly a shock. Indeed, given the way Exstream’s strength in document automation complements HP’s well-known imaging and document output abilities, the synergies the combined companies would enjoy are readily apparent.

This deal comes soon after another notable acquisition in the content management space. In December, Hopkinton, Mass.-based EMC Corp. acquired Carlsbad, Calif.-based Document Sciences Corp. for $85 million. While financial terms of the deal were not disclosed, upon completion of the deal, privately held Exstream and its more than 300 employees will be integrated into the Web Services and Software business unit within the Imaging and Printing Group (IPG) of HP.

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