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PALO ALTO, Calif. - Intapp (INTA), a provider of AI-powered solutions for professional services firms with a market capitalization of $4.27 billion, announced today an agreement to acquire TermSheet, a software company specializing in solutions for real estate teams. The acquisition, pending customary closing conditions, is expected to be finalized within the next 45 days. According to InvestingPro data, Intapp currently trades above its Fair Value, suggesting the company's robust expansion strategy has caught investors' attention.
The integration of TermSheet's technology into Intapp's DealCloud platform aims to enhance the capabilities for real assets investors, advisors, and operators. The combined system will utilize Applied AI to facilitate firm growth by optimizing operations and expediting investment strategy execution. InvestingPro data shows Intapp's impressive 18.6% revenue growth over the last twelve months, with analysts forecasting continued growth and profitability in 2025.
Erin Guinan, General Manager of DealCloud at Intapp, highlighted the acquisition as a strategic investment to better serve the real assets market. The merger is set to create a more sophisticated operating system designed for the intricate demands of the commercial real estate sector.
Frank Spadafora, Industry Principal for Real Estate at Intapp, emphasized the growing need for digital transformation among real asset managers. The unified solution promises to automate processes and provide access to market intelligence, thereby improving investment strategy execution.
The acquisition will also bring TermSheet's team on board, including founders Roger Smith and Sahil Rattan, who bring a wealth of real assets and investing experience to Intapp. The TermSheet team's expertise is expected to contribute significantly to the development of the integrated solution.
Post-acquisition, Intapp plans to introduce advanced features for both DealCloud and TermSheet, followed by the launch of the unified solution. This new offering will be available to existing clients of both platforms without the need for an additional purchase.
Intapp will conduct regular webinars to update clients on the progress and developments of the integrated solution. This move underscores Intapp's commitment to driving innovation and growth in the real assets sector by harnessing the power of AI.
The information for this article is based on a press release statement.
In other recent news, Intapp Inc. reported strong financial results for the fourth quarter of 2024, surpassing earnings per share (EPS) expectations with an EPS of $0.21, compared to the forecasted $0.16. The company also reported revenue of $121.2 million, slightly exceeding the expected $121.16 million. Despite these positive outcomes, Intapp's stock experienced a decline in after-hours trading. Additionally, Intapp's SaaS revenue increased by 27% year-over-year, demonstrating robust demand for its cloud-based solutions. The company's cloud annual recurring revenue (ARR) grew by 29%, reflecting a successful transition to cloud services. In other developments, BofA Securities maintained a Buy rating on Intapp stock with a price target of $76, following the company's second-quarter fiscal year 2025 results. The firm expressed confidence in Intapp's long-term strategy, particularly in the professional and financial services markets, and highlighted the company's new AI-enabled product, DealCloud Activator, as a significant enhancement to its offerings. These recent developments underscore Intapp's continued expansion and strategic initiatives in its targeted markets.
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