Shares of RealPage Inc. (RP) are surging over 30% Monday morning, after the software and data analytics firm announced that it has entered into a definitive agreement to be acquired by private equity firm Thoma Bravo in an all-cash transaction that values RealPage at about $10.2 billion, including net debt.
RP shares are currently trading at $88.69, up $20.86 or 30.75%, with trading volume soaring over 2.55 million versus an average volume of 734K shares.
As per the deal, 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.
Upon completion of the transaction, RealPage expects to continue operating under the leadership of Chairman and CEO Steve Winn and the existing RealPage leadership team based in Richardson, Texas.
The parties expect the transaction to close in the second quarter of 2021, subject to customary conditions, including approval by the holders of a majority of the outstanding shares of RealPage common stock.
Upon completion of the transaction, RealPage will become a privately held company, and its common stock will no longer be listed on the NASDAQ stock market.
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