Australian mapping company Nearmap recommends shareholders approve Thoma Bravo buyout

According to terms of the deal, Nearmap shareholders will receive $2.10 in cash per share.

  • Citigroup Global Markets Australia Pty Limited is acting as financial advisor to Nearmap while DLA Piper Australia is serving as legal counsel
  • Goodwin Procter LLP and Gilbert + Tobin Lawyers are providing legal counsel to Thoma Bravo
  • Thoma Bravo has more than $114 billion in assets under management

Australian mapping company Nearmap has recommended that shareholders vote in favor of Thoma Bravo acquiring the company.

According to terms of the deal, Nearmap shareholders will receive $2.10 in cash per share.

The transaction is subject to FIRB approval, US competition / anti-trust clearance and customary conditions.

On the deal, Thoma Bravo Senior Partner A.J. Rohde said in a statement: “We are incredibly impressed by Nearmap’s thought-leadership and momentum in aerial imagery, data and analytics. We believe Nearmap’s insights are increasingly mission-critical to enterprises and the use cases rapidly evolving, as evidenced by the Company’s accelerating adoption with blue-chip customers in North America. We look forward to working closely with Rob Newman and the highly-innovative Nearmap team to continue scaling Nearmap in its next chapter as a private company.”

Nearmap has engaged Citigroup Global Markets Australia Pty Limited as financial advisor and DLA Piper Australia as legal counsel. Thoma Bravo has engaged Goodwin Procter LLP and Gilbert + Tobin Lawyers as its legal counsel.

Thoma Bravo has more than $114 billion in assets under management, investing in growth-oriented, innovative companies in the software and technology sectors. Over the past 20 years, the firm has acquired or invested in more than 380 companies representing over $190 billion in enterprise value.