EMC to buy document capture vendor Captiva
- 21 October, 2005 10:05
EMC agreed Thursday to acquire Captiva Software, a maker of software for digitally capturing documents, for about US$275 million (AU$365).
The storage and information management giant will pay $22.25 cash per share of Captiva, the companies said in a statement. The deal is expected to close late this year or early next year following approval by regulators and Captiva shareholders.
EMC already has a partnership with Captiva in which it integrates Captiva's InputAccell software with its own Documentum enterprise management platform, said EMC spokesman Dave Farmer. The company plans to further integrate Captiva software into its own.
In addition, EMC will keep selling and developing Captiva's standalone products, Farmer said. No decisions have been made regarding possible layoffs or relocation of Captiva's work force of roughly 400, he added.
The companies' combined technologies will allow enterprises to eliminate paper or automatically digitally capture information and integrate it with electronic business processing, according to EMC, in Hopkinton, Massachusetts. Converting information on paper into digital formats is increasingly important as companies try to work faster and meet regulations, according to EMC.
Captiva's software is designed for digitally capturing documents -- through a scanner, for example -- and extracting the critical information in them. It applies business rules and decision processes to ensure the data is accurate and can then automatically export it to ERP (enterprise resource planning), accounting, content management and other systems. The San Diego company has about 5,000 customers, including both large enterprises and smaller organizations, according to Captiva spokesman Rob Jensen.