Business

Lexmark acquires shares from ReadSoft founders

Logo behind reception desk at Lexmark in Lexington, Ky., on Aug. 28, 2012. Photo by Pablo Alcala | Staff
Logo behind reception desk at Lexmark in Lexington, Ky., on Aug. 28, 2012. Photo by Pablo Alcala | Staff Lexington Herald-Leader

Lexmark International has acquired enough shares from the founders of Sweden-based ReadSoft to give Lexmark majority voting control in the company, which it has been trying to buy since May.

A news release Wednesday morning stated that Lexmark had increased its offer for remaining shares to $8.26 per share, up from $8.05 per share on Aug. 5.

Lexmark International has acquired 1,193,580 class A shares and 5,822,390 class B shares in ReadSoft from company founders Lars Appelstål and Jan Andersson at a cash price of $8.26 per share.

After those acquisitions, Lexmark now holds 1,193,580 class A shares and 9,686,124 class B shares in the company.

Based in Lexington, Lexmark said that it had extended its acceptance period for the offer to Sept 4.

"We are pleased that the two founders of ReadSoft have decided to sell their shares to Lexmark," Lexmark CEO Paul Rooke said. "With the addition of their shares, Lexmark now controls approximately 52 percent of the company. ... We firmly believe that Lexmark will be the best home for ReadSoft and its employees."

ReadSoft has more than 12,000 customers in 70 countries worldwide. Lexmark has competed for control of the company with Ohio-based Hyland.

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