The asset acquisition, which comprises $6.5m (£4.5m) cash and the assumption of liabilities, is hoped to complement and expand Bitstream's Pageflex product line of enterprise brand management and web-to-print packages.

"It will create one of the most robust end-to-end offerings of business management tools available in the marketing and print industries," said Bitstream president and chief executive Anna Magliocco-Chagnon.

Press-sense's flagship iWay print-on-demand workflow and management system has been adopted as a sole OEM web-to-print supplier by a number of companies, including Xerox, HP and Océ.

As there was little overlap between the customer bases of both companies, there was great opportunity for up-selling and cross-selling products, added Magliocco-Chagnon.

"Our Pageflex product line tackles the front-end of the process: order taking and document production. Press-sense provides business management tools for the back-end of the process enabling companies to monitor and reduce their operating costs," she said.

"Through this asset acquisition, Bitstream becomes the only entity able to offer the full complement of solutions required by document producers."

Bitstream plans to continue to develop Press-sense iWay and Press-sense Manager products, but will also explore integration opportunities between its own Pageflex Storefront and the complementary Press-sense products.

An Israeli court appointed an advisor to manage Press-sense as a going concern in March after two major investors pulled their funds.