US private equity firm Thomas Bravo makes its first Australian acquisition with a $725.6m takeover of aerial-mapping company Nearmap

Australian aerial-mapping company Nearmap has agreed to a 1.06bn Australian dollar (US$725.6m) takeover by Thoma Bravo, in what will be the US private equity firm's first Australian acquisition.

Nearmap on 22 August said that its board unanimously recommended the A$2.10-a-share all-cash offer in the absence of a superior proposal. It expects shareholders to vote on the offer in November.

Private equity giant Thoma Bravo acquires Australian aerial mapping firm

Stuart Condie

Nearmap

Deals

Investing

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