In February 2023, Potentia Capital lobbed a bit to acquire ASX-listed Nitro Software (ASX:NTO) for $2.16 to achieve the minimum acceptance of 50.1% required for takeover, with an increase to $2.20 if acceptance reached 90%. Founded in 2005, Nitro Software Ltd (ASX: NTO) was listed in 2019 and is a global SaaS leader in PDF software, document management and eSignature solutions.
Nitro’s core PDF and eSign products allow users to productively manage and process documents, including editing, collaboration, storing documents and e-signing.
By 31st March 2023, Potentia had acquired 90% of the shareholder registry, and on the 14th April 2023, Potentia successfully delisted Nitro Software from the ASX.
Potentia believes that Nitro represents an attractive opportunity to invest in a reputable player in the global document productivity sector. Potentia believe that Nitro has a competitive feature set when compared against global incumbents, and is supported by positive industry tailwinds and favourable unit economics.
