RealPage (RP) - Get Report, a property management software provider for multifamily, commercial, single-family and vacation rental housing providers, has agreed to be bought by private-equity firm Thoma Bravo in a deal that values RealPage at about $10.2 billion including debt.
Thoma Bravo announced on Monday that it will buy buy Richardson, Texas-based RealPage for $88.75 a share, a 31% premium to RealPage’s closing price Friday of $67.83.
The deal highlights one of the positive side effects of the coronavirus pandemic: a pervasive shift to technology and software. RealPage provides a technology platform used by owners and managers of rental properties that allows tenants to submit maintenance requests and even pay their rent.
It also highlights one of the surprise winning sectors in the pandemic - real estate itself - which despite plunges in demand for retail and office space has witnessed strong gains in residential rental, commercial, industrial and other areas in the past 10 months.
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