The Office Times

Lexmark bids for Swedish software company

Lexmark has made a $182 million USD cash bid for Sweden's Readsoft, which supplies business software for invoicing and processing sales orders, that was unanimously recommended by the software company's board.

ReadSoft has over 12,000 customers worldwide, operates in 70 countries and has more than 350 channel partners. Well-known enterprise customers include BASF, Siemens, Bosch, HSBC Bank, ING, Lego and John Deere.

"Readsoft is a great strategic fit, solidifying our position in the fast growing market for content and process management software solutions," Lexmark CEO and Chairman Paul Rooke said in a statement.

Göran Larsson, chairman of the board of ReadSoft said, "The Board of Directors of ReadSoft has carefully considered the offer and views Lexmark as an excellent owner committed to the further development of ReadSoft's business, and has therefore decided to recommend the shareholders to accept the tender offer from Lexmark."

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