ReadSoft’s acquisition of foxray AG finalized
ReadSoft, the world leader in Document Process Automation solutions, has today completed the previously announced acquisition of foxray AG, a leading developer of Business Process Automation platforms and solutions.
All closing conditions are now satisfied and the acquisition of foxray AG has therefore been completed today. Due to the completion, the Board of Directors of ReadSoft has resolved, by virtue of the authorization by the Annual General Meeting on May 3, 2011, to transfer 262,464 own shares of series B as partial payment for the acquisition. The transfer will be made to two of foxray’s founders, Ralf Göbel and Torsten Malchow and is according to the Board of Directors’ view a cost-effective partial financing of the acquisition. The transfer will be made at a price per share within the quoted price interval for ReadSoft’s series B shares on NASDAQ OMX Stockholm at the time of transfer.
Prior to the transfer, ReadSoft holds 2,803,160 own shares of series B, corresponding to approximately 8.6 percent of the total number of shares in the company. The total number of shares in ReadSoft amounts to 32,679,940 of which 1,354,500 are of series A and 31,325,440 are of series B.
As previously communicated, the Board of Directors of ReadSoft believes that the consideration paid for foxray is balanced and expects a positive contribution to earnings per share already in 2012.
ReadSoft published a press release regarding the acquisition on February 15, 2012.
This is information of the type that ReadSoft AB (publ) is obligated to disclose in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on February 27, 2012 at 16:00 CET.
For additional information, please contact
ReadSoft AB
Lars Hörberg, Legal Counsel
Phone: +46 42 490 21 26 alt. +46 708 37 66 53
E-mail: lars.hoerberg@readsoft.com
Johan Holmqvist, Vice President, Corporate Communications
Phone: +46 42 490 21 98 alt. +46 708 37 66 77
Email: johan.holmqvist@readsoft.com
About ReadSoft
ReadSoft is a leading global provider of software solutions for Document Process Automation. ReadSoft’s software enables companies to automate document processes such as accounts payable processing, document capture, document sorting, and order to cash. ReadSoft is by far the world’s number one choice for automated invoice processing, especially into business systems from SAP and Oracle. Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 16 countries on five continents and a network of local and global partners. The head office is located in Helsingborg, Sweden, and the ReadSoft share is traded on the NASDAQ OMX Stockholm's Small Cap list. For more information about ReadSoft, please visit www.readsoft.com.
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