Thoma Bravo is closing in on a deal to acquire aerial imagery company Nearmap Ltd for AUD1.06 billion ($728.5 million), according to a report by Reuters.
The AUD2.10-per-share offer submitted last month represents a premium of nearly 39% to the stock’s closing price on 12 Aug, a day before the offer was disclosed.
Shares of Nearmap jumped 5.9% to AUD2.08, their highest level since November 2021, after news of the all-cash deal broke. The company’s shares have slumped by more than half since hitting a peak in 2019.
Thoma Bravo, a software investor with assets under management of more than $114 billion, has been buying up cyber-security firms recently, with its shopping spree including Sophos, Proofpoint and Sailpoint Technologies.
The firm also agreed a $2.4 billion deal for Ping Identity earlier this month, while UK-based Darktrace Plc is reported to be in the early stages of discussions with Thoma Bravo over a possible cash offer.
