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EMC to Buy Xerox Spinoff for $85M

EMC announced today that it will spend an estimated $85 million in cash to buy publicly held Document Sciences Corp., an ISV partner of EMC's that specializes in the creation and management of customized documents for more than 500 organizations, many in financial services.

The deal is expected to close in the first quarter of 2008 and probably won't have an impact on EMC's financial results until 2009.

EMC will make Document Sciences a separate business unit within its Content Management and Archiving division, which supports Documentum, Captiva, ApplicationXtender, and EmailXtender and is headed by Mark Lewis. EMC will retain the 500 employees of Document Sciences in Carlsbad, Calif., as well as more than 300 employees of Document Sciences's China subsidiary, Objectiva. Current Document Sciences CEO Jack McGannon will stay on to lead the new EMC unit.

EMC calls Document Sciences's specialty "document output management" (DOM) software -- something Mark Lewis says will flesh out EMC's ability to offer "high-value transactional content management (TCM) solutions." Specifically, Document Sciences' xPression product line enables companies to create and generate documents in what Lewis calls "transaction-intensive applications, such as loan origination, new account enrollment, wealth management, brokerage, and claims processing."

The level of customization and automation offered by Document Sciences isn't currently part of EMC's Documentum lineup, which is why EMC has been partnering with the company for the last several years. Indeed, EMC awarded Document Sciences the "Documentum Partner of the Year Award" in 2005.

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