Bitstream Inc. acquired Press-sense Ltd. for $6.5 million in cash and the assumption of liabilities related to deferred revenue. Based in Israel, Press-sense is a 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 end-to-end offerings of business management tools.
A privately-held company founded in 2001 and funded over the years by several venture capital firms, Press-sense has become a solution provider at the intersection of Web-to-print and MIS. The company’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, HP, and Océ.
“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,” explained 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,” she added.
The company will continue to support Press-senses’ existing customers and OEM partners, including the Indigo division of HP, Océ, and Xerox, all of whom private label Press-sense software for distribution to their digital print customers.
Press-sense is based in a high-tech development center outside of Tel Aviv, Israel. Bitstream will maintain an office in Israel, which will include product development, sales, and customer support capabilities.
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