OPINION: Tyro is the latest smashed-up tech stock to become easy pickings for private equity, which has plenty of dry powder and is roaming the ASX for bargains.
Tyro Payments has joined the clutch of beaten-down technology companies targeted by private equity bargain hunters.at 5.30pm on Wednesday
Tyro Payments chairman David Thodey was right to tell Potentia to think again on Tyro’s valuation, although major shareholder Mike Cannon-Brookes is a motivated seller.
Also, the company has issued guidance for 2023 including forecast transaction value between $40 billion and $42 billion, normalised gross profit of $175 million to $181 million, and target operating leverage at 85 per cent.
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