Fast Search & Transfer, the leading developer of enterprise search and real-time alerting technologies, today announced a definitive agreement to acquire the Publishing Applications Business Unit from NextPage®, including the NXT®, Folio®, LivePublish(TM) and GetSmart(TM) product lines, as well as over 500 revenue-generating NextPage customers.
Fast Search & Transfer, the leading developer of enterprise search and real-time alerting technologies, today announced a definitive agreement to acquire the Publishing Applications Business Unit from NextPage®, including the NXT®, Folio®, LivePublish(TM) and GetSmart(TM) product lines, as well as over 500 revenue-generating NextPage customers. The customer base will include six of the world's top nine professional publishers, three of the world's top four accounting firms, and many of the world's leading financials services institutions. NextPage's document management service, Chrome(TM), will remain with NextPage. The deal is expected to close later this month.
FAST's acquisition of NextPage's Publishing Applications Business Unit and its customers will allow FAST to further expand its global presence in the Publishing market, and accelerate the development of a new Search Derivative Application (SDA) for the Publishing sector based upon FAST's award-winning Enterprise Search Platform, FAST ESP(TM). While FAST already has a strong customer base and deep experience in the Publishing sector, the integration of NextPage's technology with FAST's Enterprise Search platform technology will expand FAST's offerings to publishers by providing them with the most advanced solutions for searching, retrieving, managing, and distributing their business-critical content.
"FAST follows a strict set of criteria when evaluating acquisition opportunities," commented John M. Lervik, FAST's chief executive officer. "The NextPage business unit has fully satisfied these requirements with its strong search-focused customer base, solutions that easily integrate with FAST's Enterprise Search platform, and market-specific expertise that will accelerate the development of new SDAs for markets in which search applications provide business critical value, such as Publishing. We are very pleased with this agreement and believe it will position the Company extremely well for the future."
As part of the agreement, FAST will assume 34 employees from NextPage, the majority of which are employed in the U.S. FAST will continue to offer full support and maintenance to NextPage customers without interruption.
"This transaction benefits our customers," said Darren Lee, chief executive officer of NextPage. "By combining NextPage's experience and products in the publishing market, with FAST's world class enterprise search platform, it will further improve FAST's ability to offer the highest quality publishing applications. Together, these products will create enhanced value for our customers and partners."
The NextPage Publishing Applications Business Unit comprises of NXT, a complete, server-based publishing suite for publishers and corporations to secure and deliver information on the Internet, to corporate intranets, and on CD/DVD; Folio, a proven and widely adopted product suite for authoring, managing, securing and publishing professional electronic information on CD/DVD with a Windows client; and GetSmart, a knowledge management application designed for helpdesk and customer support centers.