Financial software business Iress has launched a takeover bid for Onevue Holdings at 40c per share.
The offer values the wealth manager firm at $107m.
The price is a 66.7 per cent premium to OneVue’s last closing share price of 24c.
The friendly deal sees Iress set to gain access to OneVue’s wealth management software.
The deal is expected to conclude in late September.
Iress will raise $170m to help fund the transaction, with Goldman Sachs underwriting a $150m placement at $10.42, a 7 per cent discount to its last closing share price.
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