NEA +24.83%: the advanced mapping company revealed a takeover bid was in play from tech private equity fund Thoma Bravo. The US based $US100b fund put forward a $2.10/sh offer in early July, which was an 83% premium to the share price at the time. Shares have since rebounded, but the bid still represented a 39% premium to Friday’s close. Thoma Bravo will get first rights...
NEA +16.6%: mapping technology company Nearmap announced it was on track to reach the top end of guidance after winning its largest government contract in North America. Previous guidance for Annual Contract Value (ACV) was between $150-160m with their new contract win pushing them over the low end of the range with around 3 months left in the period. As a result, the company has already grown ACV at least 17% on...
NEA 14.36%: the mapping tech business now expects Annual Contract Value (ACV) to come in at $133.8m after upping guidance only 10 weeks ago to $128-132m. The unaudited figure would see ACV growth of 26% for the year coming on the back of strong North American sales after a rethink of the process.
Nearmap (NEA) -7.3%: the latest ASX stock to be hit by a short seller report, NEA was down early before halting trade ahead of midday. Nearmap, which provides areal photomapping is being accused by J Capital of laying off staff and heavily discounting in an effort to keep customers in the key growth geography of North America.
Nearmap Ltd provides cloud-based geospatial information services and location intelligence content. The Company conducts aerial surveys capturing wide-scale urban areas in Australia, New Zealand and North America, providing location intelligence insights to a diverse range of businesses and government organizations.
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