News: NEA UPDATE 1-Australia's Nearmap agrees to $729 mln offer from Thoma Bravo

(Adds details on offer)

Aug 22 (Reuters) - Australian aerial imagery company Nearmap Ltd (NEA) on Monday said it had agreed to a A$1.06 billion ($728.5 million) takeover offer from private equity firm Thoma Bravo L.P.

The A$2.10-per-share offer received last month represented a premium of nearly 39% to the stock's closing price on Aug. 12, the day before the offer was disclosed.

Thoma Bravo was granted exclusive due diligence for seven days on Aug. 15.

"The Board believes the proposed all-cash offer represents attractive value and provides an immediate opportunity for shareholders to realise certain value at a significant premium to the market," Nearmap's chair Peter James said.

Thoma Bravo did not immediately respond to a request for comment.

Nearmap, whose offerings are used in surveillance, architecture, engineering and construction, unanimously recommended that its shareholders vote in favor of the deal.

The company's shares have lost more than half their value since hitting a peak in 2019, making the firm an attractive target for U.S.-based private equity firms which have shown increasing interest in discounted purchases Down Under in recent years.

($1 = 1.4550 Australian dollars) (([email protected]; Twitter: https://twitter.com/damnit_saladin;))