Thoma Bravo Completes Acquisition of RealPage
22 Abril 2021 - 10:00AM
Business Wire
RealPage, Inc. (NASDAQ: RP), a leading global provider of
software and data analytics to the real estate industry, today
announced the completion of its acquisition by Thoma Bravo, a
leading private equity investment firm focused on the software
sector, in an all-cash transaction that valued RealPage at
approximately $10.2 billion, including net debt. The acquisition
was previously announced on December 21, 2020, and RealPage’s
stockholders voted their shares in favor of the transaction on
March 8, 2021.
Upon the completion of the acquisition, RealPage shareholders
were entitled to receive $88.75 in cash per share. The price per
share represents a 30.8 percent premium to the company’s closing
share price of $67.83 on December 18, 2020, and a premium of 36.5
percent over RealPage’s 30-day volume-weighted average share price
through December 18, 2020. With the completion of the acquisition,
RealPage becomes a privately-held company, and its common stock
ceased trading and will no longer be listed on the Nasdaq stock
exchange.
“The closing of this transaction represents a new chapter in the
RealPage journey. RealPage technology has revolutionized digital
transformation in the real estate industry, and we believe the best
is yet to come,” said Steve Winn, Chairman of the Board and CEO of
RealPage. “Thoma Bravo brings significant expertise from its deep
experience with software companies, and together we are committed
to helping our customers innovate, grow and serve the next
generation of multifamily operators and residents. Our mission is
to continue to create value for our customers, partners and
employees.”
“Thoma Bravo has followed RealPage’s success in the real estate
industry for a long time. The company’s exceptional products and
commitment to innovation allow it to maintain its prominent
position in an industry undergoing an extensive digital
transformation,” said Orlando Bravo, Founder and a Managing Partner
of Thoma Bravo. “As a firm, we embrace these fundamental shifts in
industries where software driven solutions are making meaningful
advancements and we have the expertise and resources to help grow
these capabilities at companies like RealPage. We believe our
partnership can accelerate RealPage’s momentum as it innovates on
behalf of its customers.”
BofA Securities acted as financial advisor to RealPage, and
Wachtell, Lipton, Rosen & Katz acted as its legal counsel.
Financing for the transaction was provided by Goldman Sachs &
Co. LLC. Goldman Sachs & Co. LLC also served as financial
advisor to Thoma Bravo, and Kirkland & Ellis LLP served as its
legal counsel.
About RealPage
RealPage provides a technology platform that enables real estate
owners and managers to change how people experience and use rental
space. Clients use the platform to gain transparency in asset
performance, leverage data insights and monetize space to create
incremental yields. Founded in 1998 and headquartered in
Richardson, Texas, RealPage currently serves over 19 million units
worldwide from offices in North America, Europe and Asia. For more
information about RealPage, please visit RealPage.com.
About Thoma Bravo
Thoma Bravo is a leading private equity firm focused on the
software and technology-enabled services sectors. With more than
$76 billion in assets under management as of December 31, 2021,
Thoma Bravo partners with a company’s management team to implement
operating best practices, invest in growth initiatives and make
accretive acquisitions intended to accelerate revenue and earnings,
with the goal of increasing the value of the business. The firm has
offices in San Francisco and Chicago, with a planned expansion to
Miami in 2021. For more information, visit thomabravo.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210422005682/en/
RealPage Communications Steve Calk 972-810-8138
IR@RealPage.com
Thoma Bravo Communications Megan Frank 212-731-4778
mfrank@thomabravo.com
or
Finsbury Glover Hering Andrew Johnson 914-497-5138
andrew.johnson@fgh.com
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