The acquisition aims to back Hometrack’s growth by supporting investment in new technology, products and customer service. Providence Equity Partners has agreed to buy Hometrack, a provider of digital valuation and property risk data and analytics for the residential real estate sector in the UK and Netherlands. The deal is intended to accelerate Hometrack’s development as lenders digitise their operations and deliver faster, more seamless mortgage journeys for customers.

Robert Sudo, senior managing director at Providence, said: “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.” He added that as lenders continue to digitise their operations and deliver faster, more seamless mortgage journeys for customers, they believe Hometrack is well positioned for long-term growth.

Charlie Bryant, CEO of Hometrack, said: “This marks an exciting new chapter for Hometrack.” He explained that the team has built a market-leading platform by helping lenders and other property market participants make faster, smarter and more informed decisions while improving the experience for their customers. Providence shares their long-term vision, and they look forward to working together to continue investing in their technology, their people and the customers they serve.