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Australia's Iress in early talks with Blackstone, Thoma Bravo over buyout offer
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Australia's Iress in early talks with Blackstone, Thoma Bravo over buyout offer
Aug 7, 2025 5:19 PM

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billion ($1.27 billion) but was later withdrawn, the Australian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)

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