Dec 2 (Reuters) - Australia's Bigtincan Holdings Ltd (BTH.AX) said on Friday it had received a buyout bid from private equity adviser SQN Investors, valuing the software firm at A$441.9 million ($300.62 million).
Shares of Bigtincan surged as much as 14.7% to their highest in more than three months after the A$0.80 per-share offer, which represents a 17.6% premium to the stock's last close on Thursday.
However, Bigtincan has urged its shareholders not to take any action for now as it has been in preliminary talks with other interested parties related to a potential buyout deal.
SQN Investors, which hold a 13.6% stake in the artificial intelligence-powered software provider, intends to fund the acquisition via a combination of equity and a potential debt financing, according to Bigtincan.
($1 = 1.4699 Australian dollars)
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