Australia's Bigtincan gets $300 mln buyout bid from PE firm (updated)

Bigtincan Holdings

01/12/2022 22:51

(Adds details, background)
       Dec 2 (Reuters) - Australia's Bigtincan Holdings  BTH.AX  said on Friday
that it has received an unsolicited, non-binding buyout bid from private equity
adviser SQN Investors, valuing the software firm at A$441.9 million ($300.62
million).
    The A$0.80 per share offer represents a 17.6% premium to Bigtincan's share
price on Thursday, when the stock last traded.  
    If the SQN deal goes through, Bigtincan will join a handful of Australian
software firms that have agreed to be bought out by private equity firms in
recent months.  urn:newsml:reuters.com:*:nL4N31W4L9  urn:newsml:reuters.com:*:nL4N32D45X  urn:newsml:reuters.com:*:nL1N31R06G     
    However, Bigtincan has urged its shareholders not to take any action for now
as it was in preliminary talks with other interested parties related to a
potential buyout deal. 
    SQN Investors, which hold a 13.6% stake in the AI-powered software provider,
intends to fund the acquisition via a combination of equity and a potential debt
financing, according to Bigtincan.  
($1 = 1.4699 Australian dollars)
 (Reporting by Tejaswi Marthi in Bengaluru; Editing by Shailesh Kuber)
 ((Tejaswi.Marthi@thomsonreuters.com;))