Two prominent private equity firms are buying EDR, a provider of real estate data and software-as-a-service, for $205 million, the companies announced earlier this week.

EDR was previously owned by Daily Mail and General Trust, which announced late last year that it planned to sell off EDR.

The buyers for EDR, which provides property due-diligence and risk management technology and information, are Silver Lake and Battery Ventures.

“The sale of EDR marks further progress against DMGT’s strategic priorities of increasing portfolio focus and enhancing financial flexibility,” said Paul Zwillenberg, CEO of DMGT. “Silver Lake and Battery Ventures are ideally positioned to support EDR's evolving business model and future growth. We wish the team at EDR all the best in this next phase of their journey.”

Silver Lake is no stranger to investing in real estate-related technology. Last year, Silver Lake led a $500 million round of funding in SoFi, the online lender.

Now, Silver Lake and Battery Ventures are joining together to buy EDR.

“The real estate sector is continuing to evolve with the introduction of new technologies,” said Joe Osnoss, managing director at Silver Lake. “EDR has a rich history of thought leadership in this area, and we plan to invest behind the company's developing product roadmap to serve its important client ecosystem.”

EDR’s signature offering is its Collateral360 platform, which is an enterprise SaaS platform that “ensures compliance with risk policies by consolidating disparate processes and constituencies into one collaborative workspace.”

EDR CEO Chris Aronson said the company is looking forward to its next phase.

“We are thrilled to partner with world-class technology investors Silver Lake and Battery Ventures as EDR begins this exciting new chapter of innovation,” Aronson said. “I also would like to thank the team at DMGT for their steadfast support over the past two decades.”

Battery Ventures General Partner Scott Tobin said that buying EDR will enable the company to grow.

“We look forward to working closely with Chris Aronson and EDR's management team,” Tobin said. “We believe that our investment will enable EDR to accelerate growth -- including in the state-of-the-art Collateral360 SaaS platform -- and extend its reputation as a leader in real estate data and software with a developing range of products and services.”