Xerox acquires XMPie for USD 54 million

Copier maker Xerox Corp. on Tuesday said it agreed to acquire marketing software developer XMPie of Netanya for USD 54 million in cash.

XMPie produces variable information software, which combines communications outlets including direct mail, the Internet and e-mail to create marketing materials that can be specialized enough to bear an individual's name.

XMPie will maintain its brand name and operate as a standalone unit. XMPie founder Jacob Aizikowitz will head the unit. The "vast majority" of the company's 60 staffers will remain, as will its headquarters in New York and its development facility in Israel.

Xerox said in a statement its acquisition strategy is to identify successful companies in niche markets that align with Xerox "commitment to innovation, personalized service and document management offerings."

The deal is expected to close within the next 30 days.