RealPage said on Monday it would be bought by private-equity firm Thoma Bravo in an all-cash transaction that valued the property management software provider at about $10.2 billion, including debt.
Thoma Bravo is paying $88.75 per share for RealPage, representing a premium of 30.8% over RealPage's closing stock price on Friday, U.S.-based RealPage said in a statement.
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 $73 billion in assets under management as of Sept. 30.
BofA Securities is acting as the financial adviser to RealPage, while Wachtell, Lipton, Rosen & Katz would be its legal counsel.