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Banking integration and data management company Maestrano Group said it had signed a term sheet to enter into a exclusive negotiations with a potential takeover target.
The potential acquisition was at an early stage and there is no certainty that a transaction would be concluded.
'Whilst we remain focused on the projects utilizing our existing platform, we have a view that we can assist the scaling of Maestrano by executing carefully selected value-accretive acquisitions where both technology sets are able to be leveraged to deliver new and innovative solutions,' chief executive Andrew Pearson said.
'We believe we have such an opportunity in hand now and will proceed with a thorough diligence process.'