News: NTO Australia's Nitro Software receives $A430 million takeover bid

Australian investment firm Potentia Capital Management has increased its offer for Nitro Software Ltd (NTO) to $A1.80 per share, valuing the company at A$430 million, according to a statement on Friday.

Potentia said the offer would be its final after an indicative $1.58 per share bid was made in August.

The deal is the second in the Australian software sector to be announced this week after K1 Investment Management said on Wednesday it had agreed a near $A500 million to buy ELMO Software.

Potentia currently owns 19.8% of Nitro, maker of document software, and its stock was halted on Friday.