Business

Lexmark acquires even more ReadSoft shares

Lexmark International continues to gain ground in its drive to acquire Sweden-based ReadSoft, a company press release stated Tuesday.

The Lexington company said that it has acquired an additional 1,086,017 class B shares in ReadSoft and now holds 3,863,734 class B shares in the company. That represents approximately 12.6 percent of the company shares and 9.32 percent of its votes.

Lexmark's most recent offer last week was $248 million, following offers of $182 million, $194 million and $224 million.

Lexmark's most recent share acquisition, together with those shares in ReadSoft controlled by its founders which are already committed to Lexmark, represent 35.5 percent of the shares and 52.2 percent of the votes in ReadSoft.

Lexmark has been vying for control of ReadSoft as part of its strategy of acquisitions to expand its information management base worldwide. Its competitor is Ohio-based Hyland.

ReadSoft, founded in 1991 and headquartered in Helsingborg, Sweden has about 625 employees. Its 2013 revenue was $117 million. The company has more than 12,000 customers in 70 countries worldwide, according to Lexmark officials.

  Comments