Lexmark is back in the lead in the race to acquire enterprise capture vendor ReadSoft, after a new offer that pushes its bid up to $US248 million, around 20% more than its initial bid in May.

The bid was announced on August 5, a day after ECM vendor Hyland has increased its offer, and revealed its shareholding in ReadSoft has climbed to 7.9% of outstanding stock.

Lexmark countered with the news it has approximately 12.6 percent of the company shares and 9.32 percent of its votes.

Lexmark's most recent share acquisition, together with those shares in ReadSoft controlled by its founders which are already committed to Lexmark, represent 35.5 percent of the shares and 52.2 percent of the votes in ReadSoft.

"We remain convinced that the acquisition by Lexmark is the best strategic, long-term fit for ReadSoft and its employees," said Paul Rooke, Lexmark chairman and chief executive officer. 

"We have presented a compelling offer to ReadSoft shareholders, which is confirmed by the undertaking of ReadSoft's founders to tender their shares to Lexmark, and the unanimous recommendation from ReadSoft's Board of Directors," added Rooke.

Lexmark subsidiary Perceptive Software markets data capture, content management, process management, enterprise search and integration products.

The Perceptive software division is Lexmark’s second biggest business unit and makes up nearly 10% of Lexmark’s estimated value. Perceptive experienced annual growth of 53% in the Enterprise Content Management (ECM) business in 2013, and reported $US239 million in revenues for FY13.