PE firm Pemba Capital Partners to acquire Australias MSL Solutions for $80 mln
Summary
Nov 15 (Reuters) - Australias MSL Solutions Ltd (MSL.AX) will be acquired by private equity firm Pemba Capital Partners at an equity value of A$119 million ($79.72 million), the software maker said on Tuesday. The deal comes at a time when the countrys corporate sector is seeing an uptick in demand for software companies, with suitors lined up for bigger tech players like Xero Ltd (XRO.AX) and Tyro Payments Ltd (TYR.AX). Pemba Capital will pay A$0.295 for each MSL share, implying a premium of 78.8% to the stocks last close on Monday, the company said. MSLs board has unanimously backed the deal on the condition that it does not receive a higher bid and recommended shareholders to vote in its favor, the company said in a statement. Reporting by Roushni Nair in Bengaluru; Editing by Lisa Shumaker and Shailesh Kuber
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