Aug 8 (Reuters) - Australia's Iress ( IRSMF ) said on
Friday it had previously considered a takeover approach from
Blackstone and is now in talks with both the U.S. investment
company and private equity firm Thoma Bravo over a fresh
proposal.
The initial proposal from Blackstone valued Iress ( IRSMF ) at A$1.94
billion ($1.27 billion) but was later withdrawn, the Australian
financial software firm said, without providing further details
in its statement.
"Iress ( IRSMF ) is currently in the early stages of engagement with
Blackstone and Thoma Bravo in order to ascertain whether an
offer can be made which can be recommended by the Iress Board,"
the company said.
The announcement follows a report by the Australian
Financial Review that Iress ( IRSMF ) was in talks with Blackstone over a
potential buyout, which could value the company at about A$1.9
billion.
Blackstone declined to comment.
Iress ( IRSMF ) is not unfamiliar with takeover interest from private
equity firms, having previously drawn a $3 billion deal from
Swedish investment firm EQT in 2021. The deal ultimately fell
through after EQT walked away despite making several improved
offers.
($1 = 1.5323 Australian dollars)