RealPage announced on Monday, December 21, it would be bought by private-equity firm Thoma Bravo in an all-cash transaction that valued the property management software provider at about US$10.2 billion, including debt.
Thoma Bravo is paying US$88.75 per share for RealPage, representing a premium of 30.8% over RealPage’s closing stock price on Friday, US-based reported The Wall Street Journal.
Upon completion of the deal, RealPage expects to continue operating under the leadership of chairman and Chief Executive Officer Steve Winn.
“We believe this transaction will provide immediate and substantial value to RealPage stockholders,” Winn said in the statement.
The transaction is expected to be completed in the second quarter of 2021, after which RealPage will become privately held, the company said.
Thoma Bravo had more than US$73 billion in assets under management as of September 30.
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