EMC captures Captiva

Oct 24, 2005: EMC, a leader in information management and storage, and input management software developer Captiva Software have announced that they have come to a definitive agreement for EMC to acquire captive in the next 6 months.

EMC will be forking out $22.25US per share, or around $275 million net of Captiva's cash balance.

Captiva specialises in Input management software and the conversion of paper-based information to digital formats. An important area considering the drive for companies to digitally capture more and more of their information in an attempt to cut costs and enhance business processes.

After working with each other for the better part of a decade, the deal looks to be a natural progression for both companies. As Captiva focuses on the early part of information lifecycle management - information capture, digitisation and categorisation - it will enhance EMC's enterprise content management platform and add existing integrated technology to the EMC software portfolio.

"EMC and Captiva have shared a strong and fruitful partnership for close to a decade," said EMC president Dave DeWalt. "Through that relationship, we've come to truly appreciate the power of our integrated and innovative technologies."

Subject to stockholder approval, the sale is expected to be finalised later this year or early 2006.

Related Article:

EMC buys Rainfinity to improve NAS virtualisation