Font and other publishing technologies developer Bitstream Inc., Marlborough, Mass., said today it will acquire "substantially all of" Israel-based Press-sense Ltd. assets for $6.5 million in cash and the assumption of liabilities related to deferred revenue. Press-sense develops business-flow automation systems, which Bitstream said will complement and expand its own Pageflex brand-management and Web-to-print product line.
The acquisition will enable Bitstream to automate creation, production, and back-office processes for document orders, enabling customers "to maximize production efficiency, monitor and reduce costs, and increase profits," according to the company.
Press-sense's iWay print-on-demand workflow and management solution has been adopted as the sole OEM Web-to-print solution by such manufacturers as Xerox, Hewlett-Packard, and Océ, resulting in an installed base of more than 1,500 customers. The companies said they have very little customer overlap, affording "great opportunity for up-selling and cross-selling."
Bitstream plans to continue developing the Press-sense iWay and Press-sense Manager products and to explore integration between its Web-to-print Pageflex Storefront and Press-sense products.
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