Business
MidOcean Partners Signs Definitive Agreement to Sell Zonda to CoStar Group
NEW YORK, May 29, 2026--MidOcean Partners ("MidOcean" or the "Firm"), a premier New York-based alternative asset manager specializing in middle market private equity, alternative credit, and structured equity, announced today the signing of the sale of Bora, Inc. and its subsidiaries (collectively, "Zonda" or the "Company") to CoStar Group, Inc. (NASDAQ: CSGP) ("CoStar Group").
About this update from Costar Group, Inc.
[{"type":"text","content":"Marks the Firm’s Third Liquidity Event This Month and Another Successful Exit for MidOcean’s Business Services Vertical","length":119,"tagName":"p"},{"type":"text","content":"NEW YORK, May 29, 2026--(BUSINESS WIRE)--MidOcean Partners ("MidOcean" or the "Firm"), a premier New York-based alternative asset manager specializing in middle market private equity, alternative credit, and structured equity, announced today the signing of the sale of Bora, Inc. and its subsidiaries (collectively, "Zonda" or the "Company") to CoStar Group, Inc. (NASDAQ: CSGP) ("CoStar Group").","length":447,"tagName":"p"},{"type":"text","content":"Zonda is the #1 data, marketplace, and software platform for the new home ecosystem. Zonda’s end-to-end platform spans land discovery, homebuilding, home discovery, and homebuying, and is delivered through three integrated offerings: subscription-based data and intelligence covering more than 500 housing metrics across North America; the leading new-home marketplace in the U.S. and Canada; and a full suite of software solutions for the virtual home evaluation experience, including visualization, customization, and tours. Customers rely on Zonda’s proprietary, AI-driven platform for mission-critical, daily decision making across the new home value chain.","length":661,"tagName":"p"},{"type":"text","content":"MidOcean executed a focused value creation strategy that unified disparate industry assets into a comprehensive purpose-built platform for the new home market and significantly expanded the Company’s offerings across data, marketplaces, and software. During MidOcean’s ownership, Zonda completed nine strategic add-on acquisitions, broadened geographic coverage, invested heavily in proprietary and patented AI-driven data collection and workflow tools, and launched new products targeted to this $27 billion+ total addressable market. The Company more than doubled in scale, materially expanded margins, and achieved more than 50 consecutive quarters of year-over-year ARR growth – demonstrating a successful track record across all housing market conditions.","length":760,"tagName":"p"},{"type":"text","content":"Sara Badham, Managing Director at MidOcean, commented, "With Zonda’s visionary management team, we set out to create the preeminent platform for data, ins...