Atlanta (March 24, 2022) - Morris, Manning & Martin advised Orlando-Based SightPlan, Inc., in its acquisition by Scottsdale-based SmartRent, Inc. SmartRent acquired 100% of the equity interests of SightPlan on March 22, 2022, for approximately $135 million in an all-cash transaction. The SightPlan team will join SmartRent as employees, and SightPlan will continue to run its operations from its Orlando office. SightPlan’s customer subscriptions are expected to add approximately $10 million to SmartRent’s SaaS revenue for 2022.
SightPlan, a leader in multifamily workflow management, provides software solutions to help apartment communities optimize operations while improving resident satisfaction. The acquisition advances SmartRent’s product roadmap and augments the breadth of cloud-based SaaS solutions for current and prospective customers, creating a comprehensive property and resident management platform. SmartRent, publicly traded on the NYSE, is a leading provider of smart home and smart building automation for residents, property owners, managers, developers and homebuilders.
The MMM team is led by Nick Foreste and includes Elliot Franklin, Harris Howard and Marcus Jackson of Atlanta. Software Equity Group (SEG) served as the exclusive advisor to SightPlan on the transaction.
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