[Tweet “#ReadSoft adds account payable process automation to Perceptive’s portfolio @lexmark #documentmanagement”]
The following appears on Forbes.com
In May, Lexmark International had announced its plans to acquires Readsoft, a Swedish document and business process management company that offersboth on-premise and cloud software, for $182 million. However, the company had to raise its offer to 43 Swedish kronor ($6.46) a share from its May offer of 40.50 kronor due to competitive bidding from Hyland Software U.K. Ltd. on June 18. While Lexmark’s offer was expected to close by the end of June, it has now been extended to July 14. We believe that ReadSoft’s shareholders will most likely accept Lexmark’s offer. In this note, we will explore why Lexmark has increased its bid price for ReadSoft.
See our full analysis on Lexmark
More on Lexmark
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- 30% of Global 50 Manufacturers Use Lexmark
Why ReadSoft Is Important For Lexmark’s Perceptive Business
According to Lexmark, the addressable market for both electronic content management and business process management, is fairly large and offers good growth rates. Lexmark estimates that worldwide spending for content and process management in 2013 exceeded $10 billion. It expects that the content and process management software will account for about 30% of its revenue by 2015. The content and process management is expected to grow at 10% per annum in the near foreseeable future.
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