RealPage, a provider of software and analytics in the real estate industry, announced it would be acquired by the private equity group Thoma Bravo for $10.2 billion on Monday. Shares soared on the announcement of the deal, which represents a 30.8% premium to RealPage’s closing share price on Friday.
In a statement, RealPage Chairman and CEO Steve Winn said the deal would enhance the company’s “ability to focus on executing our long-term strategy and delivering even better products and services to [its] clients and partners.”
RealPage is currently the market leader in providing analytics and software to real estate companies. So, Thoma Bravo is likely looking to capitalize on prop-tech’s growing importance by leveraging RealPage’s position.