An acquirer (like if the major shareholders wanted to take it...

An acquirer (like if the major shareholders wanted to take it private) would have to own 90% of the shares to compulsorily acquire the remaining 10%. Currently, they hold about 76%.
While I am pleased by the director buying, it isn't really doing anything to reduce the float materially.
The last placement, which included Matt and Simon selling a small percentage of their holdings, occurred at $1.40:
http://www.*.com.au/companies/news/...m-capital-raising-free-float-to-23-63836.html

The director buying is a tiny shadow of the shares sold in that move, and is a small part of the 450m shares on issue. And the insto purchasers at $1.40 are unlikely to agree to let them take it private at a loss.

I am very confident what we are seeing is a business that is poised to keep growing, putting the freelancer funnel glitch and the escrow Chinese domain bubble pop behind it, and resuming steady improvement. The Escrow API will be a nice extra source of growth to complement the growth in the freelancer marketplace.

Matt & Simon are signalling their confidence in the clearest terms, and I am accumulating too.
I am very aware that the price volatility in recent months has been on very low volumes, and that tends to signal to me the supply of sellers is limited - meaning good news that motivates buyers will result in surging prices.