Silicon Valley hedge fund SQN Investors said its investment in Bigtincan was its worst after the ASX-listed sales software firm accepted a private equity buyout proposal valuing it at just $183 million.
SQN Investors bought into the company at 80¢ per share. On Friday, the fund and Philip King’s Regal Partners, which together control about 30 per cent of Bigtincan, agreed to sell to Vector Capital for 22¢ per share.
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Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com
