MFP technology developer JetFax to acquire DocuMagix

JetFax (Menlo Park, CA), a provider of MFP software solutions, has announced an agreement to acquire document management software developer DocuMagix

(San Jose) in an all stock transaction. "DocuMagix will accelerate our penetration of the document management software market and expand our software products into new market segments," said Michael Crandell, VP of Software at JetFax. The agreement will combine DocuMagix's PaperMaster document management software with JetFax's JetSuite software for multifunction products (MFPs). "By integrating our software and scanner focus with that of JetFax's MFP business, we can both benefit from the high-market growth in both segments," said DocuMagix VP of Engineering Max Wheeler. The acquisition is expected to be completed in November, and will be accounted for as a pooling of interests.