Thoma Bravo to buy RealPage for $9.6bn

Thoma Bravo has reportedly struck a deal to buy RealPage, a property management software developer, in a $9.6bn deal.

Founded in 1998, RealPage has grown to offer its software solutions on an international market and has also backed FinTech companies such as CompStak and Buildium.

The Wall Street Journal broke the news about the acquisition, saying that Thoma Bravo will pay $88.75 per share for the company at a 31% premium of RealPage’s $67.83 closing price on Friday.

Thoma Bravo raised $22.8bn across three funds in October. The Chicago-based firm has previously bought cloud-enabled cybersecurity company Sophos in a deal worth around $3.8bn and completed earlier this year. Thoma Bravo also carved out app security testing business Veracode from Broadcom in a $950m buyout in 2018.

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