ReadyTech Holdings Limited (ASX:RDY) today confirmed it has received and subsequently rejected an unsolicited, non-binding indicative proposal to acquire 100% of the company. This announcement follows recent media speculation published in The Australian Financial Review on June 1, 2026, concerning ReadyTech. ReadyTech is a leading provider of mission-critical Software-as-a-Service (SaaS) solutions for a range of sectors. The company creates technology that assists customers in the education, employment services, workforce management, government, and justice sectors to navigate complexity and achieve meaningful outcomes.
The confirmed proposal originated from Total Specific Solutions and outlined a plan to acquire ReadyTech via a scheme of arrangement for a cash consideration of $2.00 per share. This was proposed in parallel with an off-market bid offering cash consideration of $1.75 per share, contingent on a 50.1% minimum acceptance condition. The detailed terms were presented to the ReadyTech Board for their assessment.
After careful review and consideration, the ReadyTech Board unanimously determined to reject the Proposal. The Board stated its belief that the offer does not adequately reflect the inherent value of ReadyTech within the context of a potential change of control, and further, that the proposal would not be executable. In light of this decision, ReadyTech shareholders are advised that they do not need to take any action regarding the indicative proposal at this time. Jefferies Australia is providing advisory services to ReadyTech Holdings Limited concerning this matter.
