SMRT - SmartRent acquires SightPlan for $135M

SmartRent (NASDAQ:SMRT) acquired SightPlan, a differentiated vertical SaaS provider, for ~$135M in an all-cash deal. The acquisition advances SMRT'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. SightPlan's customer subscriptions are expected to add ~$10M to SMRT's SaaS revenue for 2022. SightPlan's team will join SMRT as employees, and SightPlan will continue to run its operations from its Orlando, Florida office. SightPlan's adaptability across real estate asset classes is aligned with the SMRT platform's inherent flexibility, expanding the served available market for the combined-company software platform.

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SmartRent acquires SightPlan for $135M