Home Companies News ReadSoft has Acqured foxray
ReadSoft has Acqured foxray
Companies - News
Written by Amanda Green   
Tuesday, 28 February 2012


ReadSoft, provider of Document Process Automation solutions, has announced the acquisition of foxray AG, a developer of Business Process Automation platforms.

ReadSoft offers solutions for Document Process Automation and is currently one of the largest vendors of automated invoice processing solutions worldwide. foxray develops and markets their software product suite xbound, a sophisticated platform for Business Process Automation platform. foxray’s main market focus is Europe with a recent expansion to Asia. Foxray specializes in high volume document production sites for large organizations, including banks, insurance companies, as well as government and outsourcing companies. foxray also delivers general BPO (Business Process Outsourcing) solutions.

As a result of the acquisition, xbound is integrated into the ReadSoft Capture technology stack. This will enable ReadSoft to expand their target market into more Business Process Automation related solutions.

“ReadSoft’s strategies state that ReadSoft shall be well positioned with our offering for BPOs, and that we will be active in the consolidation of our market. The acquisition of foxray is entirely in line with these strategies and we are acquiring a very strong technology and a highly competent company that will complement and extend ReadSoft’s already leading solutions perfectly,” says Per Åkerberg, President and CEO of ReadSoft. “By combining our DOCUMENTS solution with foxray’s xbound solution we will have a very strong Capture solution securing us a top position going forward. We will also be able to offer our existing customers and prospects an even stronger end-to-end solution that contains the full scope of functionality that they need today and in the future,” finishes Per Akerberg. 


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