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Announced

Completed

Lessen completed the acquisition of SMS Assist for $950m.

Financials

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Transaction Value£782m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Domestic

United States

Software

software company

property management software

Single Bidder

Completed

Majority

Private

Friendly

Acquisition

Synopsis

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Lessen, a real estate software company, completed the acquisition of SMS Assist, a facilities maintenance technology company, for $950m. “Lessen recognized early on the opportunity to provide an enterprise-level solution that solved the real estate industry’s long-tenured property services pain points. This deal demonstrates the increasing demand within the underpenetrated, $330bn addressable North American property services market for a unified, extensible delivery platform that provides transparency, efficiency and data-driven insights for the entire real estate ecosystem including investors, owners, managers and service providers," Jay McKee, Lessen Founder and CEO.

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