(Reuters) -Australia’s Infomedia said on Wednesday it has agreed to be acquired by the Asia-focused private equity arm of asset manager TPG for an equity value of A$651 million ($421.33 million).
Under the deal, shareholders in the ASX-listed firm would receive A$1.72 per share, reflecting an over 30% premium as compared to the stock’s close on Tuesday.
Infomedia provides software as a service (SaaS) solutions for the global automotive and motor service sector, offering clients data-driven solutions. It counts global carmakers BMW, Audi and Cadillac among its customers, according to its website.
The A$1.72 per-share offer sits close to what was offered for the firm back in 2022 by potential suitors from the United States.
The cash consideration reflects an enterprise value of A$579 million, the company said.
Infomedia is also allowed to pay its shareholders a fully franked dividend of up to 2 Australian cents per share for fiscal 2025 and a further special dividend of up to 2.9 Australian cents apiece.
($1 = 1.5451 Australian dollars)
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Alan Barona)
