Friday, October 21, 2005
EMC Buys Captiva For $275M
In a continuing merger and acquisition frenzy, EMC announced yesterday that it is acquiring San Diego-based Captiva Software for $275M in cash. EMC will pay $22.25 per share in cash to acquire Captiva. The deal is subject to stockholder and regulatory approval. Captiva provides software for converting paper-based information to digital formats. The company's products are used to convert paper records into electronic databases. EMC said that the move would enable it to extend EMC's Documentum enterprise content management platform and its information lifecycle management tools. EMC said that it will add tighter integration with Captiva and continue to develop Captiva software asd an open platform.