Providence Equity agrees to acquire property valuation data firm Hometrack

• Hometrack’s platform lets mortgage lenders make underwriting decisions faster and more consistently at scale
• Providence will back continued investment in innovation, product development and customer service
• Move comes as lenders increasingly digitize mortgage processes and demand technology-enabled solutions

Providence Equity Partners has entered into an agreement to acquire Hometrack, a provider of residential real estate digital valuation and property risk data and analytics in the UK and Netherlands.

Hometrack’s data supports decision-making across the residential real estate asset class, including for financial services firms, public and private property investors and insurers. The company focuses on mortgage lending in the UK and Netherlands, providing the technology and data infrastructure that helps lenders make underwriting decisions faster, more consistently and at scale. Hometrack serves 16 of the top 20 UK mortgage lenders and all of the top 14 Dutch mortgage lenders.

Providence, a specialist private equity firm focused on media, communications and education, plans to work alongside Hometrack’s management team to support continued investment in innovation, product development and customer service.

“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,” said Robert Sudo, senior managing director at Providence, in a statement. “As lenders continue to digitize their operations and deliver faster, more seamless mortgage journeys for customers, we believe Hometrack is well positioned for long-term growth.”

The transaction is subject to customary regulatory approvals and financial terms were not disclosed. Providence’s financial advisers were Deutsche Bank and Rothschild & Co, and its legal adviser was White & Case. Hometrack was advised by Arma Partners and JP Morgan on financial matters and by Freshfields on legal matters.

Editor’s note: This news brief was produced with the assistance of artificial intelligence.