Private equity firm Thoma Bravo LPA has struck a deal to buy property-management-software software provider RealPage. Inc.
R.P. -0.92%
At 6 9.6 billion, one of the largest leverage buyouts in recent years.
Company officials said Thomas Bravo is paying કંપની .75 per share for the company, a 1% premium to Real’s closing price of $ .8383 on Friday.
Richardson, a Texas-based realpage, provides a technology platform used by rental property owners and administrators. Tenants can pay their own rent or submit a maintenance request using RealPage’s software. The company also maintains a database of real-time lease transactions, from which markets can make predictions to move forward.
Its shares have risen 26% this year.
“We were able to do a very good job during the epidemic because there was a rush by our industry to go virtual, and we were one of the platforms that did it,” RealPage chief executive Steve Vine said in an interview.
Mr. Win was previously the creator of Tex Software Software, Computer Language Research Inc. Was running, which he has now sold to Thomson Reuters. Corpo.
In 1998 he bought back a unit of a company focused on real estate software and now the realpage he built. Having completed 12 deals in the last three years, the company has grown from both organic and acquisition glitches.
Software has been one of the most resilient sectors during the Covid-1p epidemic as businesses have shown that they will pay for other costs as well. This puts technology expert Thoma Bravo among the most active private equity deal makers of the year. RealPage will be his biggest acquisition to date.
Pricing makes it a relatively rare profitable buyout that reaches double-figures of billions of dollars. Such deals were common before the 2008-09 financial crisis, at which time, buyout companies remain more cautious even though they sit on a mountain of less money.
Thomas Bravo manages more than $ 70 billion in assets, led by San Francisco and Chicago-based and managing partner Land Relando Bravo. That includes 8 22.8 billion that ended up raising in October for three different vehicles.
The private equity firm sold Ally My Inc. to the Intercontinental Exchange, the owner of the New York Stock Exchange, in September. Inc.
Last year, Thoma Ma Bravo, who bought the mortgage-software software firm for. 75 billion, quadrupled her money.
Write to Miriam Gottfried at [email protected] and Cara Lombardo at [email protected]
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On December 21, 2020, it was printed as ‘RealPage sells for 6 9.6 billion.’
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