Bitstream Inc. announced the formation of a new, wholly owned subsidiary, PageFlex Inc., whose exclusive mission will be to develop, market, and support on-demand publishing software and related technology. On-demand publishing is the ability to dynamically generate business collateral, reports, and other kinds of documents directly from XML-formatted text and graphics data, and personalizing them on the fly for a particular customer. In particular, PageFlex Inc. will focus its sales and marketing efforts on two products: PageFlex, an XML-based publishing application that enables the fully automatic production of customized documents, and NuDoc, an XML-based composition engine, which serves as PageFlex’s underlying formatting engine. The current officers and directors of Bitstream Inc. will serve as officers and directors of PageFlex Inc.