Private Equity
(Reuters) -Australia's ReadyTech Holdings said on Tuesday it has received an A$481.4 million ($308.3 million) buyout offer from Pacific Equity Partners (PEP), one of the country's biggest private equity firms. The A$4.50-per-share proposal, at a near 39 per cent premium to the stock's last close, marks the third play for an Australian technology company since last week, highlighting increasing interest in the sector amid cheap valuations. ELMO Software last week agreed to a near-A$500 million takeover from Los Angeles-based K1 Investment Management, while Nitro Software on Monday backed a similar offer from KKR Inc's Alludo.