EMC to Acquire Captiva Software Corporation; Deal To Extend EMC's Lead in Information Lifecycle Management, Builds on Strengths
2005年10月21日 - 6:17AM
ビジネスワイヤ(英語)
EMC Corporation, the world leader in information management and
storage, and Captiva Software Corporation, a leading provider of
input management solutions, today announced a definitive agreement
for EMC to acquire Captiva. EMC will pay $22.25 per share in cash,
or approximately $275 million net of Captiva's cash balance. The
transaction is subject to regulatory and Captiva stockholder
approval, and is expected to be completed in either late 2005 or
early 2006. Upon completion of the acquisition, EMC expects to take
a charge of approximately $15 million to $20 million for the value
of Captiva's in-process research and development costs. Excluding
this charge, the transaction is not expected to impact EPS in the
first full year of operation. Input management software - which
provides for the conversion of paper-based information to digital
formats - has become increasingly strategic as companies
electronically capture, digitize and categorize more of their
information. This transforms costly and inaccessible paper records
into instantly usable electronic business information, resulting in
faster business processes and more accurate and timely response in
regulatory compliance situations. Through this process,
organizations gain a richer understanding of their information and
become better equipped to classify it, create policy based workflow
and automate information lifecycle management (ILM). This
acquisition represents a natural extension to the EMC Documentum
enterprise content management platform and adds existing integrated
technology to the EMC software portfolio. Captiva focuses on the
early stages of information lifecycle management - information
capture, digitization and categorization. Together, Captiva and EMC
enable customers to either eliminate paper or automate its digital
capture and integrate the information with electronic business
processing for competitive advantage. Dave DeWalt, President, EMC
Software, said, "Moving forward, this acquisition will enable EMC
to deliver further integrated solutions for input management and
image processing applications, and will also serve as an
increasingly important element of EMC's enterprise archiving
strategy. EMC's enterprise archiving framework will enable
customers to benefit from holistic policies for classification,
retention, retrieval, search and access across all information
types - structured, unstructured and semi-structured. As a result,
customers will realize significant cost savings through unified
archiving support for production applications, be better prepared
to respond rapidly to legal inquiries, and benefit from a
consistent and integrated archiving and retrieval approach for all
information. "EMC and Captiva have shared a strong and fruitful
partnership for close to a decade," added DeWalt. "Through that
relationship, we've come to truly appreciate the power of our
integrated and innovative technologies. Our combined ability to
streamline processes and reduce operating expenses is having
remarkable impact for customers across the world." Reynolds Bish,
President and CEO of Captiva, said, "This transition marks a
significant milestone in the evolution of our company. As partners,
EMC and Captiva have generated outstanding business results for our
customers. As a combined force, our opportunities for growth and
providing an even greater value proposition are significantly
enhanced. The EMC Documentum enterprise content management platform
clearly has a leadership position, and we share a common vision for
how we can leverage this platform for our customers with Captiva as
an EMC-branded and supported solution." In addition to tighter
integration with Captiva, EMC will continue to develop Captiva
software as an open platform as it does with all EMC multi-platform
software, including the underlying content management platform.
Captiva's input management software optimizes the capture and
management of information. Captiva software products address the
front-end of traditional processes by digitally capturing
documents, forms, reports and other types of physical media (using
scanners, fax machines, or electronic means) and extracting the
business critical information contained therein. Business rules and
decision processes are then automatically applied to ensure
accuracy, and the results are exported transparently into ERP,
accounting, credit, document, and content management information
systems. These systems then use this business-critical information
to drive key business processes such as loan processing in retail
banking, policy and claims management in insurance, accounts
payable, customer correspondence, new account processing, etc. This
not only speeds business process, but transforms costly and
inaccessible paper records into instantly usable electronic
business information. Captiva is based in San Diego and counts 50%
of the Global 2000 among its more than 5,000 customers. In 2005,
Captiva was named one of San Diego's fastest-growing technology
companies by Deloitte & Touche, won the "Trend-Setting Product
of '05" award and was cited as one of "The 100 Companies That
Matter" in Knowledge Management by KM World Magazine, and received
the AIIM Best Practices and Best of Show Awards 2005. Earlier this
month, EMC Corporation was recognized as a leader in the "The
Forrester Wave(TM): Enterprise Content Management Suites, Q3 2005"
report. Forrester recognized EMC as a leader based on the strength
of EMC's enterprise content management (ECM) strategy and EMC
Documentum product offering. About EMC EMC Corporation (NYSE: EMC)
is the world leader in products, services and solutions for
information management and storage that help organizations extract
the maximum value from their information, at the lowest total cost,
across every point in the information lifecycle. Information about
EMC's products and services can be found at www.emc.com. About
Captiva Software Captiva Software Corporation (NASDAQ: CPTV) is a
leading provider of input management software solutions. Since
1989, the company's award-winning products have been used to manage
business critical information from paper, faxed and scanned forms
and documents, Internet forms and XML data streams into the
enterprise in a more accurate, timely and cost-effective manner.
These products automate the processing of billions of forms and
documents annually, converting their contents into information that
is usable in database, document, content and other information
management systems. Captiva's technology serves thousands of users
in insurance, financial services, government, business process
outsourcing, manufacturing and other markets. For more information,
visit www.captivasoftware.com. For more on EMC news, events, and
recent media coverage visit the news section of EMC.com. Note to
editors: For further information about this release contact EMC
Public Relations at pr@emc.com EMC and Documentum are registered
trademarks of EMC Corporation. All other trademarks are the
property of their respective owners. This release contains
"forward-looking statements" as defined under the Federal
Securities Laws. Actual results could differ materially from those
projected in the forward-looking statements as a result of certain
risk factors, including but not limited to: (i) adverse changes in
general economic or market conditions; (ii) delays or reductions in
information technology spending; (iii) risks associated with
acquisitions and investments, including the challenges and costs of
integration, restructuring and achieving anticipated synergies;
(iv) competitive factors, including but not limited to pricing
pressures and new product introductions; (v) the relative and
varying rates of product price and component cost declines and the
volume and mixture of product and services revenues; (vi) component
and product quality and availability; (vii) the transition to new
products, the uncertainty of customer acceptance of new product
offerings and rapid technological and market change; (viii)
insufficient, excess or obsolete inventory; (ix) war or acts of
terrorism; (x) the ability to attract and retain highly qualified
employees; (xi) fluctuating currency exchange rates; and (xii)
other one-time events and other important factors disclosed
previously and from time to time in EMC's filings with the U.S.
Securities and Exchange Commission. EMC disclaims any obligation to
update any such forward-looking statements after the date of this
release.
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