HP buys Exstream Software

HP will add conquest's enterprise software to Web Services and Software business unit within IPG

HP announced yesterday that it has agreed to acquire enterprise software provider Exstream Software for an undisclosed amount.

Founded in 1998, Exstream currently employs over 300 people and is headquartered in Kentucky in the US. It is a portfolio company of American Capital Strategies and its technology is designed to help businesses with the production of print and online communication.

HP expects to complete the transaction, subject to customary closing conditions, in the second quarter of this year and Exstream will be then be integrated into the Web Services and Software business unit within its Imaging and Printing Group (IPG).

David Murphy, senior vice president, Web Services and Software Business, IPG, HP, said: "A business, whether it is a bank, a healthcare provider or a utility company, needs to communicate relevant, personalised information to its customers through a broad range of channels.

“We expect that the acquisition of Exstream will allow HP to address a broader set of customers and be a strong leader in the fast-growing document automation market.”

Richard Troksa, Exstream's chief executive officer said: “We are very happy to join with HP to accelerate our ability to help businesses around the world to efficiently develop and deploy personalised communications.

“The combination of Exstream’s solutions and HP’s print software expertise will provide customers with a more comprehensive approach to delivering reliable and targeted business communications.”