Bravura Solutions is being bought out by private equity firm Ironbridge Capital.
Ironbridge, who already has a minority stake in $120 million ASX-listed Bravura, will purchase the remaining 67.1 percent shares under a scheme implementation agreement. This includes the 14.3 percent stake owned by Fisher Funds.
The private equity firm offered 28c per share, which represented a 65 percent premium on the company's 17c closing price a day earlier.
In a letter, Bravura's chairman, Brian Mitchell, recommended to shareholders that they approve the deal.
Bravura representatives could not comment to CRN on the deal.
Company shares have since been suspended in the lead-up to the deal's finalising on 10 October.
Bravura is a supplier of IT solutions to businesses in the financial sector. Since being formed in 2004, the company has completed nine acquisitions and has 700 employees in 10 countries.
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