U.S. private equity firm KKR will raise its tender offer price for Japanese IT company Fuji Soft to 9,850 yen a share from 9,451 yen, above Bain Capital's rival offer of 9,600 yen, a person familiar with the deal said on Tuesday.

The U.S. investment company KKR has increased its tender-offer price for the Japanese software firm Fuji Soft, in an effort to conclude its acquisition battle with competitor Bain Capital. According to a regulatory filing on Tuesday,

The U.S. investment company bought a more than one-third stake in Fuji Soft in November and has said it is best positioned to work with the company to take it private.