IronBridge Capital’s takeover proposal of Bravura Solutions has collapsed, due to market volatility.
A statement released by Bravura said discussions with IronBridge on the takeover proposal within the framework of the original implementation agreement had continued for some months without result, and the implementation agreement has now been terminated as a result of “circumstances in global financial markets”.
Bravura did not give an assurance that any further proposals would be received from IronBridge, however, the Bravura board will review any future alternative proposals from the company according to the circumstances of the time.
Bravura said it expected solid growth for the rest of the year. The company’s revenue increased 15.6 per cent to $31 million in the previous quarter.
