M&A Deal Summary

Inside Real Estate Acquires BoomTown

On January 20, 2023, Inside Real Estate acquired internet software and services company BoomTown from Adams Street Partners and Susquehanna Growth Equity

Acquisition Highlights
  • This is Inside Real Estate’s 3rd transaction in the Internet Software and Services sector.
  • This is Inside Real Estate’s 4th transaction in the United States.
  • This is Inside Real Estate’s 1st transaction in South Carolina.

M&A Deal Summary

Date 2023-01-20
Target BoomTown
Sector Internet Software and Services
Buyer(s) Inside Real Estate
Sellers(s) Adams Street Partners
Susquehanna Growth Equity
Deal Type Add-on Acquisition
Advisor(s) Houlihan Lokey (Financial)
DLA Piper (Legal)

Target

BoomTown

Charleston, South Carolina, United States
BoomTown is a web-based software company that offers a robust online marketing system for real estate professionals. BoomTown was founded in 2006 and is based in Charleston, South Carolina.

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Buyer(S) 1

Buyer

Inside Real Estate

Salt Lake City, Utah, United States

Category Company
Sector Internet Software and Services
DESCRIPTION

Inside Real Estate provides residential real estate brokers and agents with a cloud-based software platform and marketing solution to help brokers intelligently engage prospective home buyers and sellers, dramatically simplify the buying and selling processes and uses analytics to identify specific actions for improving performance. Inside Real Estate is based in Salt Lake City, Utah.


DEAL STATS #
Overall 4 of 4
Sector (Internet Software and Services) 3 of 3
Type (Add-on Acquisition) 4 of 4
State (South Carolina) 1 of 1
Country (United States) 4 of 4
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-24 AmpStats

East Rochester, New York, United States

AmpStats is a modern technology focused on harnessing data to drive intelligent decisions for brokerages around recruiting, retaining and talent development. AmpStats is based in East Rochester, New York.

Buy -

Seller(S) 2

SELLER

Adams Street Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1972
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Adams Street Partners is a diversified, global investment firm that targets direct, fund of funds, and secondary investments. Adams' direct investing group covers co-investments in buyout transactions, as well as growth equity and venture capital commitments. The direct buyout and growth equity team looks to commit $5 to $30 million per transaction. For venture related investments, commitments of $5 to $20 million are provided to companies in the technology, life sciences and technology enabled services sectors. Typically, target companies have received prior financing from early stage venture firms and are seeking additional capital to fund product development and commercialization. Adams Street Partners was formed in 1972 and is based in Chicago, Illinois.


DEAL STATS #
Overall 92 of 96
Sector (Internet Software and Services) 16 of 16
Type (Add-on Acquisition) 48 of 51
State (South Carolina) 1 of 1
Country (United States) 85 of 88
Year (2023) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-05 Lever

San Francisco, California, United States

Lever is a recruiting software that supports the hiring needs of over 1,300 leading companies around the globe including the teams at Netflix, Lyft, Hot Topic, and Owens-Illinois. Lever is designed with integrated ATS and CRM functionality, and features a modern interface that helps employers develop stronger candidate relationships in fewer clicks. Lever was founded in 2012 and is based in San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-09 Mineralys

Radnor, Pennsylvania, United States

Mineralys is a clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone. Its initial product candidate, lorundrostat, is a proprietary, orally administered, highly selective aldosterone synthase inhibitor that the company is initially developing for the treatment of patients with uncontrolled hypertension. Mineralys was founded in 2020 and is based in Radnor, Pennsylvania.

Sell -
SELLER

Susquehanna Growth Equity

Bala Cynwyd, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2006
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Susquehanna Growth Equity (SGE) is the private equity arm of The Susquehanna International Group of Companies. SGE focuses on companies that help streamline payments and related transactions. This includes SaaS, payments and transaction processing, capital markets technology, and internet/information services. SGE looks to commit $10 to $200 million in companies with at least $5 million of revenue. The Firm will consider both control and minority positions and targets opportunities across North America, Europe, and Israel. SGE was established in 2006 and is headquartered in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 30 of 32
Sector (Internet Software and Services) 12 of 14
Type (Add-on Acquisition) 19 of 20
State (South Carolina) 1 of 1
Country (United States) 26 of 27
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 ZenQMS

Ardmore, Pennsylvania, United States

ZenQMS is a provider of quality management software (QMS) for hundreds of life sciences companies around the world. ZenQMS unique platform integrates all of your critical-to-quality documents and processes, providing the support you need along your quality journey. ZenQMS was founded in 2009 and is based in Ardmore, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-12 Qualtrics

Provo, Utah, United States

Qualtrics is a software-as-a-service company that helps clients monitor and gather customer insights. Qualtrics has pioneered a new category of software that enables organizations to deliver the experiences that turn their customers into fanatics, employees into ambassadors, brands into religions, and products into obsessions. Qualtrics was founded in 2002 and is based in Provo, Utah.

Buy $12.5B