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Software darling shuns suitors to try its own private equity job

It is a big call to go it alone. Many would buckle when PE approaches because the turnaround is too hard – or they don’t want to pass up a quick buck.

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The shrinking ASX could have lost another $2 billion staple stock to private equity – twice. A strong-headed chairman got in the way of both.

The first time was in 2021, just before the wheels fell off. The second was a few months ago, as the wheels were still getting put back on.

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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com

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    Original URL: https://www.afr.com/chanticleer/software-darling-shuns-suitors-to-try-its-own-private-equity-job-20240810-p5k1c8