Nearmap update on Thoma Bravo
Jul 2023
The Nearmap Board has unanimously recommended a proposal from software investment firm, Thoma Bravo, to acquire 100 per cent of Nearmap.
Jul 2023
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The Nearmap Board has unanimously recommended a proposal from software investment firm, Thoma Bravo, to acquire 100 per cent of Nearmap. The offer from Thoma Bravo demonstrates the success of the Nearmap strategy, the market leadership of our technology and products, and the strong capability of our teams. We expect the review process will continue until early November.
Thoma Bravo is one of the largest private equity firms in the world with more than US$114 billion in assets under management. The firm invests in growth-oriented, innovative companies in the software and technology sectors.
For our customers and partners, it is business as usual. There will be no impact to the service they receive, nor the market-leading technology and products they access.
This is a transformational opportunity for Nearmap. Our business in Australia and New Zealand will continue to be strategically important. We were founded in Australia and will be celebrating our 15th year in operations in 2022.
At the same time, we’re continuing to invest and grow our operations here. We have reviewed and refreshed our go-to-market strategy for the region to better serve our customers and respond to your needs. Some very exciting recent developments at Nearmap include:
- Appointing Dan Paull as General Manager, Australia and New Zealand. Dan is a seasoned leader who brings to Nearmap longstanding experience in geospatial services and location analytics, especially expertise in supporting the government sector, and
- Launching the world’s leading, patented aerial camera system, HyperCamera3, enabling unmatched productivity, efficiency, and frequency of coverage. The new system unlocks more viewing angles, improved 3D reconstruction, and new infrared capture opportunities to support new and advanced use cases.
The proposal from Thoma Bravo, which is still subject to regulatory and shareholder approval, is an exciting opportunity to further scale-up our business. Nearmap is unique because we own the complete hardware, processing, analytics, and software delivery pipeline. This provides us with a powerful, irreplicable way of achieving best-in-class, industry-leading accuracy, quality, and efficiency.
Finally, I’d like to thank our customers and partners for their continued support and partnership. Nearmap now serves more than 12,000 customers globally, with around 90,000 individual users who can access more than 60 million individual aerial images. Our success is only possible with their support.
Dr. Rob Newman
CEO and Managing Director
CEO and Managing Director