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Australia's Nitro Software receives $430 million takeover bid
Australian investment firm Potentia Capital Management has increased its offer for Nitro Software to $1.80 per share, valuing the company at $430 million.
Potentia said the offer would be its final after an indicative $1.58 per share bid was made in August.
The deal is the second in the Australian software sector to be announced this week after K1 Investment Management said on Wednesday it had agreed a near $500 million deal to buy ELMO Software.
Potentia currently owns 19.8 percent of Nitro, maker of document software, and its stock was halted on Friday.
In the statement to the Australian Securities Exchange [pdf], Potentia expressed support for support for Nitro's management, led by founder and CEO Sam Chandler.
