Thoma Bravo, L.P. agreed to acquire Nearmap Ltd (ASX:NEA) for AUD 1.1 billion on July 6, 2022. As of August 22, 2022, Thoma Bravo, L.P. entered in to an implementation deed to acquire Nearmap Ltd (ASX:NEA) for AUD 1.1 billion. As per the transaction, Thoma Bravo, L.P. will pay AUD 2.1 per share. The transaction is subject to Foreign Investment Review Board approval, ASIC and ASX approval, Court approval, clearance in the United States under the Hart-Scott-Rodino Act, and other customary terms and conditions. As of August 22, 2022, Nearmap Board considers that the Scheme is in the best interests of shareholders and unanimously recommends that Nearmap shareholders vote in favor of the Scheme, in the absence of a Superior Proposal and subject to the Independent Expert concluding that the Scheme is in the best interests of Nearmap shareholders. As of September 30, 2022, United States Hart-ScottRodino Antitrust Improvements act condition has been satisfied. The break free is AUD 10.54 million for both parties. As of October 20, 2022, The Scheme Meeting is scheduled to take place on Friday, 25 November 2022. As of November 23, 2022, the transaction received government approval. As of November 25, 2022, Nearmap shareholders has approved the transaction. On December 5, 2022, Federal Court of Australia approved the transaction. The Scheme is currently expected to be implemented on December 15, 2022. Nearmap's shares will be suspended from trading on the ASX at the close of trade December 6, 2022.


Citigroup Global Markets Australia Pty Limited acted as financial advisor and Elliott Cheung, David Ryan, Roger Hawkins, James Stewart, Eddie Ahn, Andy Weil and Paolo Morante of DLA Piper Australia Pty Ltd acted as legal advisor to Nearmap Ltd. Goodwin Procter LLP and Gilbert and Tobin acted as legal advisors to Thoma Bravo, L.P. Automic Group Pty Ltd acted as registrar and Grant Thornton Corporate Finance Pty Ltd, Investment Banking Arm acted as Fairness Opinion Providers to Nearmap. The Goldman Sachs Group, Inc. (NYSE:GS) acted as financial advisor to Thoma Bravo.