Hopkinton, Mass. and Carlsbad, Calif., - EMC Corp., a Hopkinton, Mass.-based information infrastructure solutions provider, and Carlsbad, Calif.-based Document Sciences Corp. signed a definitive agreement whereby EMC will acquire publicly-held Document Sciences in a cash transaction valued at approximately $85,000,000. Document Sciences is a provider of document output management (DOM) software that facilitates highly personalized, multi-channel communications to customers, partners and suppliers. The acquisition complements and extends EMC's position in the transactional content management marketplace, the fastest-growing segment of enterprise content management, according to the company.
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.
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