Hyland Software is throwing some hard punches in what has become a bidding war for ReadSoft.
Hyland Software has increased its bid for ReadSoft — and increased its control over the Swedish company’s shares in an effort to invalidate an agreement between ReadSoft and a rival bidder.
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The Westlake-based company, which sells OnBase content management software, now says it will pay 45 Swedish kronor ($6.58) per share for ReadSoft, which makes software that automates the processing of documents. That would put ReadSoft’s value at about $202 million.
That’s 4.7% higher than a previous 43 kronor ($6.30) bid from Lexmark International, a Kentucky company that makes printers and document management software.