Global Payments has extended its technology and processing capabilities into the real estate vertical, agreeing to acquire Zego from Vista Equity Partners.
The $925 million deal would bring Zego’s real estate management and payments software to Atlanta-based Global Payments, which views real estate as a $6.5 billion target with ongoing payments and software needs.
“With our agreement to acquire Zego, we enter one of the largest and most attractive vertical markets worldwide,” Global Payments CEO Jeff Sloan said Tuesday during a first-quarter 2021 earnings call. “Real estate is the quintessence of the type of market that we seek — sizable, global in scope, fragmented and ripe for further software, digital commerce and payments penetration.”
Zego offers a cloud native software-as-a-service platform for property management, resident engagement and payments. The company has 7,300 property management customers representing more than 11 million residential…