Document Sciences soars on acquisition news

Document Sciences Corp. (Nasdaq: DOCX) shares are soaring after the maker of content publishing software announced that EMC Corp. (NYSE: EMC) is acquiring the company for $14.75 per share, or about $85 million in cash. The transaction isn’t expected to have a material impact on EMC’s fiscal 2008 results.

"The proposed acquisition of Document Sciences would make EMC the first to offer all of these major capabilities in an all-in-one, integrated suite,” Mark Lewis, EMC’s president, said in a statement. “Building on our recent commitment to deliver end-to-end solutions to solve real-world business problems, Document Sciences provides a tremendous advantage in addressing transaction-intensive applications such as loan origination, new account enrollment, wealth management, brokerage and claims processing. This gives our customers a significant competitive edge to increase customer loyalty and maximize business performance."

The acquisition is expected to be completed during the first three months of calendar 2008.

In morning trading, DOCX shares soaring to a new year high — up 75.83%, or $6.24, at $14.48. Over the last 52 weeks, shares have ranged from $5.80 to $14.48.

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