"High-level stage" effort should be reasonable.
Thoma Bravo courts Nearmap with $1bn bid
Nearmap, an Australian flying imaging company, may be offered to US private equity firm Thoma Bravo,
revealing a potential acquisition at $1.06 billion.
According to Nearmap's ASX documentation [pdf], Thoma Bravo's proposal was received on July 6
the company has since determined it is "dependable and acceptable to allow a non-elite appropriate degree of effort entrance to Thoma Bravo."
The interaction, which is currently in a "high-level stage," "includes all monetary and another valuation-basic expected degree of investment."
Thoma Bravo has a seven-day restriction that can be extended based on the two players' plans.
Also, Nearmap asserted that while it had gotten "a few extra non-confining verbalizations of interest" in its organization, not a single one of them had gotten board endorsement.
During March, rival EagleView has been suing Nearmap for patent infringement.
In May, Nearmap said that it has filed a petition to invalidate four of EagleView's licences.