Perth-founded aerial imaging company Nearmap (ASX:NEA) has agreed to a take-over deal from private equity firm Thoma Bravo at $1.05 billion.
Nearmap?s board unanimously recommended the deal, which is set up as a scheme of arrangement through which shareholders will receive $2.10 per share.
?Our business model is proven in Australia and our ambition to continue to grow rapidly in North America aligns well with Thoma Bravo?s future ambitions for the business,? said Chief Executive Rob Newman.
The deal is subject to regulatory approvals and the company said the transaction could be completed by late November.
Shares in Nearmap rose more than 5% following the announcement.