Investment firm EQT said on Friday that it did not plan to make a buyout offer for Alfa Financial Software, which provides software for the asset finance industry.

In June, EQT proposed to buy Alfa Financial Software for £614.4 million (US$786.06 million) or 208 pence per share, with the proposal also giving shareholders the option to elect for a partial unlisted share alternative offer.

On Friday it was reported that the irrevocable undertaking between EQT and CHP Software Consulting Limited relating to the possible offer had terminated and ceased to be binding.