Hometrack to be Acquired by Providence Equity Partners

We are excited to announce that Providence Equity Partners L.L.C. (“Providence”), a specialist private equity firm focused on media, communications and education, has entered into an agreement to acquire Hometrack.

This acquisition will support our position as a leading provider of residential real estate digital valuation and property risk data & analytics in the UK and Netherlands. With a particular focus on mortgage lending, we provide the technology and data infrastructure that allows mortgage lenders to make underwriting decisions faster, more consistently and at scale. We currently service 16 of the Top 20 UK, and all of the Top 14 Dutch, mortgage lenders.

Providence has a demonstrated track record of investing in market-leading businesses and supporting them through their next phase of growth. Working alongside our management team, Providence will drive continued investment in innovation, product development and customer service as we build on our market-leading position.

Robert Sudo, Senior Managing Director at Providence, said: “Hometrack is a market leader in automated residential property valuations, built on market-leading technology, deep customer relationships and a critical role within the mortgage ecosystem. As lenders continue to digitise their operations and deliver faster, more seamless mortgage journeys for customers, we believe Hometrack is well positioned for long-term growth. We look forward to partnering with the team as they continue to innovate and strengthen the business.”

Charlie Bryant, Chief Executive Officer of Hometrack, said: “This marks an exciting new chapter for Hometrack. Our team has built a market-leading platform by helping lenders and other property market participants make faster, smarter and more informed decisions while improving the experience for their customers. Providence shares our long-term vision for the business, and we look forward to working together to continue investing in our technology, our people and the customers we serve.”

The transaction is subject to customary regulatory approvals.