March 2023
- Exclusive
- Mergers & acquisitions
Tech market struggles have M&A dealmakers ready to pounce
Dealmakers say private equity funds will be forced to resort to hostile tactics, or novel methods to get tech M&A deals done, as companies cling to inflated valuations.
- Yolanda Redrup
February 2023
- Exclusive
- Private equity
Nearmap layoffs driven by C-suite, not PE owners: new CEO
The company made 20 per cent of its staff redundant and Andy Watt took over from Rob Newman as CEO, just months after Thoma Bravo acquired it for more than $1 billion.
- Yolanda Redrup
- Exclusive
- Private equity
Mass layoffs at Nearmap as US owner wields axe
US private equity giant Thoma Bravo is wielding the axe at Nearmap only a few months after taking control of the business, making 20 per cent of staff redundant, as CEO Rob Newman resigns.
- Yolanda Redrup
January 2023
Private equity deals and few IPOs: how 2023 looks for tech
Tech stock investors face a year of stiff competition to buy into quality local companies such as WiseTech and Xero as tight capital markets keep the lid on fresh listings.
- Jessica Sier
December 2022
- Exclusive
- Funding
‘Relief that stupidity is over’: US VCs flee Aussie tech market
After a flurry of big money deal making in 2021 and early 2022, new data shows US venture capitalists have retreated from the Australian market.
- Tess Bennett
November 2022
Why this CEO did a 180-degree turn on a capital raise
The former local tech darling’s unexpected move followed months of Chris Hulls insisting there was no need for fresh capital.
- Jemima Whyte
Nearmap’s $1b deal comes down to the wire
Thoma Bravo’s bid for the aerial imaging technology company has narrowly been approved by shareholders, with more than 78 per cent of votes in favour.
- Yolanda Redrup
Nearmap braced for multimillion-dollar hit as takeover vote nears
The company has announced to the ASX that two customers will either stop using its software or lower their usage materially.
- Yolanda Redrup
October 2022
Credit bigwigs get behind Thoma Bravo’s Nearmap deal
Four credit funds will tip in up to $US236 million ($369 million) to help bankroll Thoma Bravo’s bid for Australian mapping software company Nearmap.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
- Opinion
- Funding
Private equity ready to pounce on battered ASX tech stocks
The ASX faces a challenge in its positioning as a home for growing tech companies, as private equity lines up to pick off companies smashed down by local investors.
- Updated
- Adir Shiffman
September 2022
Nearmap investors rally to try to block Thoma Bravo
US software PE giant Thoma Bravo’s play for Nearmap is looking less like a done deal.
- Yolanda Redrup, Sarah Thompson, Kanika Sood and Anthony Macdonald
August 2022
Strong Nearmap trading post-deal gives pause for thought
Hedge funds are testing whether there could be a bump or another bid in the works.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
- Opinion
- Chanticleer
Top lawyers reveal the big question hanging over deals
The recent flurry of merger and acquisition activity couldn’t have come too soon for deal makers. But in an uncertain world, the question of what is fair value looms large.
- Updated
- James Thomson
ASX falls 1pc as interest rates, ex-dividend stocks weigh
Australian shares fell on Monday in a broad decline as investors responded to a slew of corporate announcements and speculation of aggressive US policy tightening to rein in inflation.
- Cecile Lefort
‘Stick a fork in it’: Thoma Bravo’s Nearmap bid looks like a done deal
Investors are disappointed the US private equity giant didn’t increase the price of its bid, but the $2.10 per share offer has the support of the Nearmap board.
- Yolanda Redrup
No hiccups at Nearmap, investor support next battleground
The final round of takeover talks at Nearmap appear to be going well, with the company and its private equity suitor Thoma Bravo closing in on a binding deal at $2.10 a share.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
Nearmap’s PE suitor fronts investment banks, due diligence almost done
Things are moving at warp speed at the mapping software business.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
PE ownership or not, Nearmap’s future is in the metaverse
Nearmap has recorded a 29 per cent surge in revenue to $145.9 million, driven by growth in the flourishing North American market.
- Yolanda Redrup
How one strategy change set Nearmap up for $1b offer
A decision by Nearmap in 2012 to change its business model from free images to a subscription model set it up for future success.
- Yolanda Redrup
Nearmap investor not sold on $1.1b private equity bid
Nearmap shares have soared 26 per cent on the back of PE fund Thoma Bravo’s $1 billion-plus non-binding bid.
- Updated
- Yolanda Redrup