Less than 18 months after wrapping up its $1 billion take-private of aerial technology outfit Nearmap, San Francisco private equity outfit Thoma Bravo is back in Australia, setting its sights on financial software group and perennial underperformer Iress.
Thoma Bravo, which specialises in software businesses and has about $US134 billion ($206 billion) under management, has enlisted Jarden’s Aidan Allen for advice on a potential tilt. However, the buyout firm has not made a formal approach to the company or its defence adviser Goldman Sachs, sources added.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
