Embedded technology system outfit JetFax Inc has decided to buy its way to growth with the acquisition of document management software developer DocuMagix Inc. The Menlo Park, California company, which specializes in software for multifunction products combining print, fax, copy and scan capabilities, will issue 900,000 shares of its common stock to fund its buy, and will combine its own technologies with four-year-old DocuMagix’s PaperMaster personal document management products. DocuMagix has some lucrative software bundling deals with Hewlett Packard Co, Logitech Inc and Microtek Inc, as well as value added reseller and retail sales channels, and has sold over a million copies of PaperMaster since it was formed in May 1993. The software will be combined with JetFax’s JetSuite software. Jetfax hopes it will be able to speed up the development of next generation products as a result of the acquisition of San Jose, California-based DocuMagix.
