Real estate analytics and software company RealPage announced Monday that it has agreed to be acquired by private equity firm Thoma Bravo.
RealPage is a publicly traded company, and the deal will involve paying stockholders $88.75 in cash per share. That’s more than 30 percent higher than the $67.83 per share that RealPage’s stock commanded on Friday.
Following Monday’s announcement, the price of RealPage shares shot up to more than $89.
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RealPage provides a variety of real estate software tools, including a multifamily management platform that can handle things like rent payments, utilities, and renters insurance. In a statement Monday, the company said it “enables real estate owners and managers to change how people experience and use rental space.” The firm also provides market analysis products.
RICHARDSON, TX - RealPage, a leading global provider of software and data analytics to the real estate industry, announced it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services sector, in an all-cash transaction that values RealPage at approximately $10.2 billion, including net debt.
Under the terms of the agreement, RealPage stockholders will receive $88.75 in cash per share of RealPage common stock upon closing of the transaction. The purchase price represents a premium of 30.8% over RealPage’s closing stock price of $67.83 on December 18, 2020, a premium of 36.5% over RealPage’s 30-day volume-weighted average share price through that date, and a premium of 27.8% over RealPage’s all-time high closing stock price of $69.47 on December 7, 2020. The RealPage Board of Directors has unanimously approved the agreement with Thoma Bravo and recommends that RealPage st
RealPage Stockholders to Receive $88.75 Per Share in Cash
Transaction Provides Significant Premium to RealPage Stockholders
RICHARDSON, Texas & SAN FRANCISCO–(BUSINESS WIRE)–RealPage, Inc. (NASDAQ: RP), a leading global provider of software and data analytics to the real estate industry, today announced it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services sector, in an all-cash transaction that values RealPage at approximately $10.2 billion, including net debt.
Under the terms of the agreement, RealPage stockholders will receive $88.75 in cash per share of RealPage common stock upon closing of the transaction. The purchase price represents a premium of 30.8% over RealPage’s closing stock price of $67.83 on December 18, 2020, a premium of 36.5% over RealPage’s 30-day volume-weighted average share price through that date, and a premium of 27.8% over RealPage
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Shares of RealPage soared Monday after private-equity firm Thoma Bravo agreed to buy the real estate software company for $88.75 a share in cash, or about $10.2 billion, including debt.
The transaction calls for RealPage (ticker: RP) shareholders to receive $88.75 a share, a near 31% premium to the company’s closing share price of $67.83 on Friday, a statement said. RealPage’s board has approved the deal, which is expected to close in the second quarter.
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RealPage Stock Soars on $10.2 Billion Buyout. It’s the Latest in a Flurry of Deals by Thoma Bravo.
Shares of RealPage soared Monday after private-equity firm Thoma Bravo agreed to buy the real estate software company for $88.
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What happened
Shares of
RealPage (NASDAQ:RP) were jumping today after the property-management technology company agreed to be acquired by private equity firm Thoma Bravo.
As of 11:22 a.m. EST, the stock was up 29.2% to $87.65, slightly below the buyout price of $88.75, indicating a solid level of confidence that the deal will go through as announced.
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