Thoma Bravo is paying $88.75 per share for the company, a 31% premium to RealPage’s RP,
+0.54% closing price Friday of $67.83, officials at the firms said.
RealPage, based in Richardson, Texas, provides a technology platform used by owners and managers of rental properties. Tenants might pay their rent or submit a maintenance request using RealPage’s software. The company also keeps a database of real-time lease transactions, allowing it to forecast where markets are heading.
Its shares are up 26% this year.
“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 Steve Winn said in an interview.
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