BancTec planning initial public offering of up to $50 million in stock

BancTec says readying $50 million IPO

DALLAS — BancTec Inc. said Monday it is planning an initial public offering of up to $50 million in common stock.

The Dallas-based company provides document and content processing software for capturing documents from paper scanners, fax machines and e-mail for clients in the financial services and health care industries, among others. The company also sells scanners and offers payment processing services.

BancTec said it plans to file a registration statement with the Securities and Exchange Commission for the IPO, and expects to use proceeds to fund general corporate purposes.

BancTec, founded in 1972, says it has clients in 50 countries.