Hopkinton, Mass. and Carlsbad, Calif., -
The board of directors of Document Sciences approved the transaction with EMC based, in part, upon the recommendation of a special committee of the Document Sciences board of directors that was established to evaluate strategic alternatives. Under the terms of the agreement, Document Sciences stockholders will receive $14.75 in cash for each share of Document Sciences common stock. The acquisition is subject to customary closing conditions, including Document Sciences' stockholder and regulatory approvals, and completion of the deal is expected in the first quarter of calendar year 2008. This transaction is not expected to have a material impact on EMC financial results in 2008.
Source: Document Sciences Corp. and EMC Corp.