Private equity firm Providence Equity Partners has reached an agreement to acquire Hometrack, a company specialising in residential property valuation and risk data. The financial terms of the deal have not been disclosed.
Hometrack provides automated valuation technology and property risk information to various clients, including mortgage lenders, investors, and insurers across the UK and the Netherlands. The company works with 16 of the UK’s 20 largest mortgage lenders and all 14 of the largest lenders in the Netherlands.
The acquisition is not yet complete, as it remains subject to regulatory approval. Providence Equity Partners has stated its intention to collaborate with Hometrack’s management team and support further investment in technology, product development, and customer service.