Main Highlights:
- RealPage is a real estate software and data analytics company.
- Thoma Bravo, a private equity firm acquired RealPage.
- The tech firm shares jump more than 30%.
- Thoma Bravo, based in San Francisco and Chicago.
RealPage shares jump more than 30% after it agrees to be bought by private equity firm Thoma Bravo in a deal that values RealPage at $10.2 billion.
Governed out of Texas in 1998, RealPage targets firms regulating the multi-family rental real property domain, fulfilling many of the technology’s desire to manage their myriad properties, from accounting to marketing and business intelligence.
This comprises insights into trends across broad portfolios and key performance indicators (KPIs) at private properties. At a time when estate managers, owners, and investors across the real estate world may have a concern. It is about rent defaults due to job losses and the broader impact of the global pandemic. Having access to data and custom reporting can help identify risks and opportunities.
RealPage An Real Estate Software
RealPage is an American multinational corporation that provides property management software for the multifamily, commercial, single-family, and vacation rental housing industries. Steve Winn is Chairman of the Board & Chief Executive Officer.
RealPage was founded in 1998 with the acquisition of Rent Roll, Inc. a provider of on-premises property management systems for the conventional and affordable multifamily rental housing markets.
RealPage shifts its corporate headquarters to Richardson, Texas in 2016, and in 2017 acquires four firms – lodgings market data provider Axiometrics, utility and energy management company American Utility Management, revenue management, and pricing provider Lease Rent Options and also On-Site, leasing, and marketing platform company.
Thoma Bravo Acquires RealPage
Thoma Bravo is offering investors $88.75 in cash for each share of RealPage. The acquisition would also be the biggest to date for Thoma Bravo, which manages more than $73 billion.
The companies confirm through a statement. The transaction represents a 31% premium to the company’s closing share price on Dec. 18 and values the company at $10.2 billion including debt. The software company’s stock rose 30% to $88.50 at 9:52 a.m. in New York. Also, it had earlier touched $89.20, a record high for the shares.
