EQT AB (publ) (OM:EQT) is believed to be weighing up a bid for the Advent Partners-owned Compass Education Pty Ltd, in addition to Goldman Sachs Asset Management, L.P. KKR & Co. Inc. (NYSE:KKR) earlier had a look but has now walked away, sources say. Another potential suitor is private equity firm Warburg Pincus LLC, according to speculation in the market.

The business has been for sale through Royal Bank of Canada. Its private equity owner is understood to be hoping for a price as high as $700 million, some say. While private equity firms are sizing up a bid for Compass Education, the interest in another education software business, Education Horizons, is believed to be from strategic investors.

It's up for sale through Potentia Capital. EQT has been around the hoop on a number of technology companies in Australia in the past, previously bidding for the listed Iress.