HP Buying Lexington’s Exstream Software

Some Lexington news here, Exstream Software is being acquired by Hewlett-Packard for an undisclosed amount.

PALO ALTO, Calif. (AP) - Hewlett-Packard Co. said Tuesday it has agreed to buy American Capital Strategies Ltd.’s Exstream Software LLC for an undisclosed amount.

Based in Lexington, Ky., Exstream Software makes software that allows businesses to personalize documents aimed at their customers. Founded by Davis Marksbury and Dan Kloiber, the company’s brands include Dialogue and AFP Studio.

Upon completion of the acquisition, Exstream Software will be integrated into the Web Services and Software business unit within the Imaging and Printing Group (IPG) of HP. “Businesses – whether a bank, healthcare provider or utility company – need to communicate relevant, personalized information to their customers through a broad range of channels,” said David Murphy, senior vice president, Web Services and Software Business, IPG, HP. “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.”

We are very happy to join with HP to accelerate our ability to help businesses around the world to efficiently develop and deploy personalized communications,” said Richard Troksa, chief executive officer and president, Exstream Software. “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.”

The company’s programs help banks print account statements, government agencies print applications and utilities print bills.

Hewlett-Packard expects the deal to close in the second quarter of its fiscal year.

The company plans to integrate Exstream into HP’s (NYSE:HPQ) Web services and software business unit, which is part of the imaging and printing group.

Exstream has more than 300 employees, and its customers include banks, insurers, government departments, retailers, telecommunications companies and utilities.

Jason has good coverage over at WebProWorld as well.

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