Wealth management software provider Bravura Solutions has rejected unsolicited offers to acquire all of the issued capital of the group, with the company's board confident in the strategy and direction of the business.
In a statement to the Australian Securities Exchange, Bravura said it had completed the assessment of a number of unsolicited indicative proposals and decided against proceeding further.
"The Bravura board of directors received a number of unsolicited indicative proposals to acquire all of the issued capital of Bravura, which it sought to progress," the company said.
"These proposals were confidential, non-binding, incomplete and subject to due diligence and a number of other conditions.
"None of the indicative proposals has resulted in a binding offer or proposal, either capable pf implementation or of being put to shareholders."
The board was confident in the strategy and direction of the business, which continued to trade in line with the board's expectations, the company said.
In February, the board confirmed speculation it had received a number of bids.
Late last year, the Bravura board appointed Macquarie Capital Advisers to assist in assessing the approaches.
The unnamed advances were outside an approach made to Bravura in August 2010, the company said.
In August last year, 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.
