SYDNEY — Australian aerial-mapping provider Nearmap Ltd. received a takeover proposal from Thoma Bravo LP and is in advanced due diligence with the U.S. private-equity firm.
Nearmap on Monday said that it received the A$2.10-a-share all-cash proposal on July 6. It said the proposal valued the company at 1.055 billion Australian dollars (US$751.7 million) and represented an 83% premium to its share price prior to receipt.
Nearmap granted Thoma Bravo a seven-day exclusivity period from Monday during which it would not solicit or discuss any alternative proposal. Nearmap said it had previously received several other expressions of interest that it had not considered in shareholders’ best interest.
The ASX-listed firm is scheduled to release its annual results on Wednesday. It said it expects annual contract value of A$159.9 million, which is at the top end of guidance and up 25% on-year.