CINC Systems Expands Through ONR Acquisition
Deal News | Jan 29, 2025 | Spectrum Equity
CINC Systems, a leading provider of community management technology solutions, has announced its acquisition of ONR Applications, Inc., a resident engagement platform that is known for its advanced communication tools for community associations. This strategic acquisition aims to integrate ONR's capabilities with CINC's existing offerings, creating an end-to-end solution for community management that addresses both backend processes and resident experiences. The co-founders and executive team of ONR will join CINC and become shareholders. CINC announced this move following a successful year which included innovative developments in financial technology, such as new Gen AI functionalities. Spectrum Equity, which made a significant investment in CINC in January 2024, supports this acquisition as part of CINC's ongoing growth strategy.
Sectors
- Property Management Technology
- Financial Technology Solutions
Geography
- United States – CINC Systems and ONR operate across the United States, providing technology solutions to numerous community associations and impacting a large number of American residents.
Industry
- Property Management Technology – The article discusses innovations and acquisitions in the tech space dedicated to property and community management, highlighting the integration of technological solutions in real estate management.
- Financial Technology Solutions – CINC Systems' offerings include financial management software, showcasing the company's influence within this sector through innovative SaaS products and banking integration.
Financials
- N/A – The article does not specify the financial terms of the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CINC Systems | Target Company/Acquirer | Company | Leading provider of community management technology solutions and acquirer of ONR Applications. |
| ONR Applications, Inc. | Acquired Company | Company | A resident engagement platform known for its streamlined communications apps and websites for management companies. |
| Spectrum Equity | Private Equity Investor | Company | PE firm that previously made a significant investment in CINC Systems, backing its growth and strategic acquisition plans. |
| Carlos Guzman | Co-founder and CEO of ONR | Person | Co-founder and CEO of ONR Applications, now joining CINC Systems’ team post-acquisition. |
| Ryan Davis | CEO of CINC Systems | Person | CEO of CINC Systems who emphasizes the strategic value of the ONR acquisition. |
| Hg Capital | Investor | Company | Investor in CINC Systems as of January 2024, providing support for company growth. |
| Steve Weclew | CEO of Ardoor | Person | External supporter of the CINC and ONR integration, highlighting the innovation's benefits. |