Silver Lake, Battery Ventures acquire EDR for $205m

Silver Lake and Battery Ventures have acquired real estate data and software business EDR for $205m.

The pair bought it from Daily Mail and General Trust (DMGT) as it looks to increase portfolio focus and enhance “financial flexibility”, according to DMGT CEO Paul Zwillenberg.

EDR is a property due diligence and risk management technology and information for the real estate industry. The technology can be implemented across the industry such as with lenders, insurers, legal firms, environmental consultants, engineers and appraisers, among others.

Insurance companies can use the platform to aid their underwriting processes through the solution review properties for environmental concerns. The Collateral360 solution, helps companies improve workflow for their underwriting and claim operations.

Lenders, whether its banks, credit unions, capital investors or others, can use the technology to improve their risk management and ensure they meet the various regulatory demands.

This investment will enable EDR to accelerate its growth and further develop its products.

Silver Lake managing director Joe Osnoss said, “The real estate sector is continuing to evolve with the introduction of new technologies. EDR has a rich history of thought leadership in this area, and we plan to invest behind the company’s developing product roadmap to serve its important client ecosystem.”

The transaction, which is expected to close in the coming weeks, closely follows the final close of Battery Ventures XII, which collected $1.25bn back in February.

Silver Lake also recently closed a new investment vehicle, picking up $15bn for its fifth-tech focused fund last year. The firm raised the capital to support large-scale investments in the global technology space.

Earlier in the year, Silver Lake and P2 Capital Partners moved towards the $3.5bn acquisition of Blackhawk Network Holdings. The company is a digital and physical gift card and prepaid card payments network.

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