Private equity firm BGH Capital has hired Morgan Stanley for its $1.3 billion proposal to buy Hansen Technologies.
The $6.50 per share offer was announced to the market on Monday and is subject to due diligence, financing and a period of exclusivity.
Hansen is in the process of selecting an adviser, with Credit Suisse potentially well placed to win the role.
Hansen describes itself as a global software provider, servicing the energy, water and communications industries.
It has at least 500 customers in more than 80 countries.
The offer is a 25 per cent premium to the last closing price of $5.18 on Friday.
In a statement to the market, Hansen said it intended to recommend the proposal and has granted a period of six weeks due diligence exclusively to BGH.
DataRoom understands that both parties have held discussions about a deal throughout the year.
Managing director Andrew Hansen has agreed to work exclusively with BGH for the mooted transaction and vote his shares in favour of the buyout.
He is a substantial shareholder with his Hansen Property Trust.
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