EMC to Acquire Captiva Software Corporation
EMC Corporation and Captiva Software Corporation, a provider of input management solutions, have announced a definitive agreement for EMC to acquire Captiva.
This deal is going to cost EMC a whopping $275 million. Through this acquisition, storage and information lifecycle management giant, EMC intends to extend its software portfolio further and solidify its hold on the market.
According to EMC, Captiva Software Corporation, which mainly focuses on the early stages of information lifecycle management - information capture, digitization and categorization together with EMC will 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,” he added
“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.”
EMC says that in addition to tighter integration with Captiva it 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. The business-critical information is used 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, and others. In addition to speeding up the business process the software 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. According to the terms of the acquisition, the transaction is subject to regulatory and Captiva stockholder approval, and is expected to be completed in either late 2005 or early 2006.
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