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Bitstream to acquire assets of Press-sense Ltd.

May 17, 2010 12:00 AM

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Bitstream Inc., a Marlborough, MA-based software development company with core competencies in browsing, font and publishing technologies, has agreed to acquire substantially all of the assets of Press-sense Ltd. (Or Akiva, Israel) for $6.5 million in cash and the assumption of liabilities related to deferred revenue. Press-sense is a leading developer of business flow automation systems.

The Press-sense business will complement and expand Bitstream’s Pageflex product line of enterprise brand management and web-to-print solutions to create one of the most robust end-to-end offerings of business management tools available in the marketing and print industries. By fully automating the creation, production, and back-office processes for document orders, Bitstream will provide the tools to enable its customers to maximize production efficiency, monitor and reduce costs, and increase profits.

Press-sense’s flagship Press-sense iWay print-on-demand workflow and management solution has been adopted as the sole OEM web-to-print solution by major digital print manufacturers including Xerox Corp., Hewlett-Packard and OcĂ©, resulting in an installed base of more than 1,500 customers in North America, Europe, and Asia Pacific.

“In the past few years, we have seen a dramatic increase in the demand for automated processes in the document production space. Increased commoditization and competition in the printing industry, as well as increasing pressure on corporate marketers to demonstrate positive returns on investment for all expenditures, are driving the desire to reduce or eliminate human touches from the production of documents and to generate sufficient and accurate data to measure the costs and benefits of each step of the process,” explains Anna Magliocco-Chagnon, Bitstream president and CEO. “Our Pageflex product line leads the industry in tackling the front-end of the process: order taking and document production. Press-sense provides the most extensive business management tools for the back-end of the process enabling companies to monitor and reduce their operating costs. Through this asset acquisition, Bitstream becomes the only entity able to offer the full complement of solutions required by document producers.”

The company will continue to support existing Press-sense customers and OEM partners. Bitstream will maintain an office in Israel, which will include product development, sales and customer support capabilities. The Israel office will allow Bitstream to expand its real-time support for existing customers in Europe, the Middle East, and Africa. Bitstream plans to continue to develop and expand the Press-sense iWay and Press-sense Manager products. The Company will explore integration opportunities between Pageflex Storefront, the company’s award-winning Web-to-print offering, and the complementary Press-sense products.

Pageflex will be exhibited May 18 - 25 at Ipex 2010 in Birmingham, England.