EQT offered to acquire Iress, an Australian financial software provider, for $2.34bn. The bid offeres to acquire shares at $10.8 per share and $11.2 to $11.36 per share respectively. The board has carefully considered the proposal, including obtaining advice from its financial and legal advisers, and considers it in the best interests of shareholders to engage further with EQT in relation to the proposal. Iress has agreed to grant EQT a period of 30 days to undertake its due diligence.