Australian automotive software company Infomedia has agreed to be acquired by TPG’s Asia-focused private equity division in a deal valued at A$651 million (US$421 million). The offer of A$1.72 per share represents a more than 30% premium over Infomedia’s stock price as of Tuesday’s market close.
Infomedia, which provides SaaS solutions for the global auto and motor services industry, serves major clients including BMW, Audi, and Cadillac. The cash deal implies an enterprise value of approximately A$579 million and is close in value to a 2022 offer the company received from U.S.-based bidders.
As part of the agreement, Infomedia is permitted to issue shareholders a fully franked dividend of up to 2 cents per share for fiscal year 2025, along with a special dividend of up to 2.9 cents.
Source: Reuters
