Private-equity firm Thoma Bravo LP has struck a deal to buy property management software provider RealPage Inc for $9.6 billion, the Wall Street Journal reported on Monday.
Thoma Bravo is paying $88.75 per share for RealPage, the report said, adding that RealPage would be its biggest acquisition to date.
The reported deal is at a 30.8 % premium to RealPage’s closing price on Friday.
Thoma Bravo and RealPage did not immediately respond to requests for comments.
“We were able to do quite well during the pandemic because there was a rush by our industry to go virtual, and we were one of the platforms that did that,” RealPage Chief Executive Officer Steve Winn told the Journal.
Thoma Bravo had more than $73 billion in assets under management as of Sept. 30.
Source: Reuters
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