Bigtincan, an Australian sales coaching platform, announced that it has received a buyout offer for AUD 442 million (~USD 300 million) from existing investor SQN, a private equity group that owns 13.6% of the firm. 

According to the firm, SQN submitted an unsolicited takeover offer for AUD 0.80 per share with plans to fund the acquisition through a combination of equity and a potential debt transaction. However, Bigtincan shareholders have been requested to remain passive at this time as it is in preliminary negotiations with other interested parties. 

Following the announcement of a potential acquisition, shares in Bigtincan rose as much as 14.7%, marking the highest level it has reached in more than three months.

Analyst QuickTake: According to its most recent financial statement, the company reported a record-breaking sales increase of 162% YoY to AUD 37.7 million (~USD 25.6 million) in Q1 FY2023. Prior to that, the company stated that its sales increased by 113% YoY in Q4 FY2022, reaching AUD 31.3 million (~USD 21.9 million). It's probable that the takeover offer was prompted by this robust performance.