Norwegian search software maker Fast Search & Transfer ASA has bought the publishing applications business unit of NextPage Inc. in a move designed to expand its global presence in the publishing market.
The $6 million cash deal is expected to close later this month. NextPage could get another $9 million in performance-related payments over the next four years.
Oslo-based FAST gets NextPage’s NXT Folio, LivePublish, and GetSmart product lines and a 500 strong customer base that includes several leading professional publishing and accounting firms.
FAST says it will continue to support and maintain these standalone applications.
However the technology will also be used to accelerate the development of FAST’s newly announced search derivative application for the publishing [online directories and classified ads] sector called FAST AdVisor which is built on top of the company’s ESP search platform which it launched at the beginning of this year. Fast AdVisor represents the second of three planned vertically-oriented search derivative applications to be introduced by FAST this year.
Draper, Utah-based NextPage will be left to focus on its new document management service called Chrome which it recently showcased in June and plans to officially launch later this year.
Chrome, which is 18 months in development and is being tested by over 50 customers, tracks versions of documents across e-mail attachments, hard drives and servers.