Hewlett-Packard Co. has announced that it is acquiring Exstream Software, a privately held Lexington company best known for developing Dialogue software, which enables companies to produce personalized business communications.
Financial details of the acquisition have not been released.
According to information released by HP, the acquisition of Exstream boosts HP’s position in the rapidly expanding category known as variable data publishing (VDP) software. VDP is a system of enterprise software and printing infrastructure that enables users to design, create and distribute highly customized documents using rich media and is intended for an “audience of one.” For Exstream, the acquisition by a company with the size and resources of HP will enable it to further expand into markets it has not yet tapped.
Founded in 1998 by Davis Marksbury and Dan Kloiber, Exstream now has direct sales and services offices in the United States, United Kingdom, France, Germany, the Czech Republic, Norway and Australia and employs more than 300 people. With year-over-year revenue growth averaging 40 percent, the company has garnered the attention of financial and industry analysts and been ranked for several consecutive years as one of the fastest growing software companies in the world by Inc. magazine, Deloitte Technology and Software magazine.
Following the acquisition, which is expected to be complete by the end of April, Exstream will remain in Lexington but will become part of HP’s Web Services and Software Group.