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Mass layoffs at Nearmap as US owner wields axe

Yolanda RedrupRich List editor

Feb 8, 2023 – 8.12am

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Heads are rolling at formerly ASX-listed aerial imaging software company Nearmap less than three months after it was acquired by US private equity giant Thoma Bravo in a $1 billion-plus deal.

Multiple sources close to the company told The Australian Financial Review that chief executive Rob Newman had resigned, chief financial officer Penny Diamantakiou had left the company, and chief operations officer Andy Watt would become CEO.

Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk.