The board of wealth management software provider Bravura Solutions has appointed an adviser to assess a number of unsolicited third-party approaches to buy the company.
"The Bravura board has decided to appoint Macquarie Capital Advisers to assist the board in assessing these approaches and any other approaches which Bravura may receive," the company said in a statement.
"Bravura does not intend to make any further announcement in relation to the approaches unless and until a binding proposal capable of being put to shareholders is received. No assurance is given that any such binding proposal will ultimately be received."
The unnamed advances were outside an approach made to Bravura in August, it said.
In August, Bravura informed the market it had received a takeover offer of between 17.5 cents and 20 cents a share from an unnamed offshore party.
At the time, the firm said it had received an incomplete, indicative and non-binding proposal to acquire all of the issued capital of Bravura by a scheme of arrangement.
Bravura chief executive Simon Woodfull was unavailable to comment on the number of third parties interested in the company or speculation the approaches are linked to a number of key executive departures.
Unconfirmed reports claim the listed firm suffered three executive exits in November, with the company's head of operations for Australia and Asia; Talisman head of service delivery, Superb and Calibre; and ePass head of service delivery each departing.
Last month, Bravura chairman Brian Mitchell said the firm had made a number of redundancies as part of a strategic company review.
"We have reduced operating expenses through selected headcount reductions, at the same time allowing many employees to take on more senior and challenging roles," Mitchell said in his annual general meeting speech.
"We restructured our global sales team and invested in additional sales capability in Asia-Pacific."
