EMC Corporation, a provider of information infrastructure solutions, and Document Sciences Corporation announced they have signed a definitive agreement whereby EMC will acquire the publicly held Document Sciences in a cash transaction valued at approximately $85 million. Document Sciences is a provider of document output management software that facilitates personalized, multichannel communications to customers, partners, and suppliers. The acquisition extends EMC's position in the transactional content management marketplace.

The board of directors of Document Sciences approved the transaction based in part upon the recommendation of a special committee of the company's 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 common stock. The acquisition is subject to customary closing conditions, including Document Sciences' stockholder and regulatory approvals, and is expected to be completed in the first quarter of 2008. This transaction is not expected to have a material impact on EMC financial results in 2008.

Mark Lewis, president of the content management and archiving division at EMC, says, "Core to delivering high-value transactional content management solutions is a complete suite of technology, including high-volume, content-rich task processing, sophisticated capture, business process management, records management and archiving, as well as automated document output management. The proposed acquisition of Document Sciences would make EMC the first to offer all of these major capabilities in an all-in-one, integrated suite."