M&A Deal Summary

MRI Software Acquires Insurent

On June 25, 2024, MRI Software acquired insurance company Insurent

Acquisition Highlights
  • This is MRI Software’s 2nd transaction in the Insurance sector.
  • This is MRI Software’s 27th transaction in the United States.
  • This is MRI Software’s 5th transaction in New York.

M&A Deal Summary
Date 2024-06-25
Target Insurent
Sector Insurance
Buyer(s) MRI Software
Deal Type Add-on Acquisition
Advisor(s) PJT Partners, Inc. (Financial)

Target

Insurent

New York, New York, United States
Insurent provides a residential lease insurance product to landlords to protect against loss due to non-payment of rent by tenants in large cities. A tenant can purchase the residential lease insurance product which guarantees all rent obligations under the lease in lieu of posting a larger cash deposit with the landlord or securing a co-signor for the lease. Tenants must meet minimum financial standards (income to rent multiple and FICO score) in order to be eligible for the Insurent residential lease guarantee program. Insurent was formed in 2008 and is based in New York City.

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Buyer(S) 1

Buyer

MRI Software

Solon, Ohio, United States
Category Company
Founded 1971
Sector Software
Employees340
DESCRIPTION

MRI Software is a provider of real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. MRI develops lasting client relationships based on nearly five decades of expertise and insight. MRI Software was established in 1971 and is based in Solon, Ohio.

DEAL STATS #
Overall 45 of 45
Sector (Insurance) 2 of 2
Type (Add-on Acquisition) 42 of 42
State (New York) 5 of 5
Country (United States) 27 of 27
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-19 TPN

Gauteng, South Africa

TPN is a registered credit bureau serving the residential, commercial, and education markets in South Africa. The company's comprehensive solution portfolio includes verification services for credit, employment, and criminal records, as well as legislation-compliant document packs, market reports, and toolkits. TPN was formed in 2000 and is based in Gauteng, South Africa.

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