April 14, 2024

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Business is my step

Richardson-centered RealPage currently being bought in $10 billion offer

2 min read

Richardson-centered RealPage Inc. – the quick growing real estate administration companies and software package firm – is getting bought in a deal valued at a lot more than $10 billion.

RealPage has agreed to a obtain by Thoma Bravo, the San Francisco-based mostly non-public equity firm.

The transaction is scheduled to shut in the next quarter of future 12 months.

RealPage has been in small business because 1998 and serves far more than 12,000 house organization consumers globally.

The company’s consumers contain house owners and operators of flats, with extra than 19 million rental models in North The us, Europe and Asia. RealPage sells software package, running units and presents analytics to the rental business.

All through the past number of several years, RealPage has tremendously amplified its footprint with the acquisitions of lesser businesses.

“I am immensely proud of that perform and also happy that the transaction will supply us the chance to function with Thoma Bravo, a firm with great software program financial investment and operational capabilities,” RealPage chairman Steve Winn mentioned in a assertion. “This will enhance our potential to target on executing our very long-expression strategy and delivering even superior products and services to our clients and partners.”

After the acquisition is finished, RealPage will keep on to be primarily based in Richardson and function beneath the management of Winn, in accordance to the buyout settlement.

Winn and “certain affiliated entities” possess about 10% of RealPage’s stock.

RealPage went public a ten years in the past in a inventory sale valued at $135.3 million.

RealPage shareholders would acquire $88.75 in money per share of RealPage frequent stock – much more than a 30% quality above the company’s final closing rate.

Buyer Thoma Bravo’s holdings include investments in tech and application corporations. The corporation with workplaces in San Francisco and Chicago manages a lot more than $73 billion in assets.

“RealPage’s market foremost system is vital to the authentic estate ecosystem and has huge likely likely forward, Orlando Bravo, Founder and a Managing Husband or wife of Thoma Bravo, reported in a statement. “Our agency has a keep track of file of attaining reducing edge application vendors to specialized industries and driving their innovation and progress though remaining true to their main enterprise and prospects.

“Together, RealPage and Thoma Bravo can companion to grow the company’s market place offerings and boost its present abilities to capitalize on the ever more complex and increasing authentic estate current market.”

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