Stone Point Capital has purchased Vista Equity Partners’ stake in real estate software company Lone Wolf Technologies. Stone Point will become Lone Wolf’s lead institutional investor, powering the next phase of its growth and expanding its product offering, the company said.
The investment by Stone Point, a financial services-focused private equity firm, will help Lone Wolf streamline its end-to-end experience for agents and brokers and accelerate organic and inorganic product development, the company said.
Lone Wolf’s management team will remain as the company continues on its path of growth. Financial terms of the transaction with Vista Equity Partners weren’t disclosed.
“We’re excited to work with the team at Stone Point to continue our strategic growth,” Jimmy Kelly, CEO of Lone Wolf, said in a statement. “Stone Point’s investment aligns with our vision to create a truly connected, fully digital real estate experience. We are thankful for the partnership and leadership of Vista Equity Partners over the last five years, and we remain committed to serving the real estate industry going forward.”
Lone Wolf provides real estate technologies to over 1.5 million agents, 8,000 brokerages and hundreds of MLS’ and associations in North America.
“We are enthusiastic about the long-term opportunities within the real estate services and technology industry,” Chuck Davis, Stone Point’s CEO, said in a statement. “This industry is undergoing rapid digital transformation, and we are pleased to partner with Jimmy and his colleagues, who together have built a remarkable company and have demonstrated the vision to continue to grow and better serve their clients.”
In 2017, Lone Wolf acquired Instanet Solutions, a provider of transaction management, electronic forms, and eSignature solutions for the real estate industry. The companies said that the deal would create the “largest real estate brokerage software platform in North America.”
Then in 2019, Lone Wolf acquired zipLogix, which also provides transaction management, electronic forms, and eSignature solutions for the real estate industry. The zipLogix platform, which includes the company’s transaction management software (zipForm, zipTMS, and zipVault), will all be available through Lone Wolf’s platform.
Over the last four years, the Department of Justice has been conducting a criminal inquiry into whether Vista’s CEO Robert Smith failed to pay U.S. taxes on roughly $200 million in assets that passed through offshore vehicles, the Wall Street Journal reported this week.
As a result, Smith will pay a $140 million settlement – $85 million in penalties, $30 million in back taxes and $25 million in interest.
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