Vinson & Elkins advised PayLease on the deal
PayLease, a leading PropTech provider for the property management and Homeowner Association (HOA) industry, has acquired Zego, the hub for smarter apartment living.
Backed by Vista Equity Partners (“Vista”), a leading technology investment firm focused on enterprise software, data, and technology-enabled businesses, PayLease was recently named to Deloitte’s 2018 Technology Fast 500™ list. The company offers online payments, resident billing, and utility expense management tools to property management companies and serves more than 4,500 property management companies and 12.5 million units nationwide.
Through this acquisition, Zego’s technology will be integrated into PayLease’s best-in-breed Payments, Resident Billing, and Utility Management platform to enable residents to pay rent & utilities, submit work orders, communicate with staff, receive package notifications, access third-party tenant services, and more via one consolidated mobile app.
The Zego platform also integrates smart home devices into the mobile app. Residents who utilize this functionality receive unparalleled convenience and ease-of-use, as they can easily control their apartment’s smart devices. Whether locking or unlocking doors, controlling lights, adjusting their thermostat, or getting advice from “Millie”, an artificial intelligence powered personal assistant, residents can perform all these functions through a branded app.
Vinson & Elkins advised PayLease on the deal with a team led by partner Milam Newby (Picture), with assistance from senior associate Michael Gibson and associates Kate Rainey and Ann Stehling. Also advising were partner Devika Kornbacher and associate Ben Cukerbaum; partner Shane Tucker and counsel Dario Mendoza; partner Sean Becker and counsel Martin Luff; and partner Jason McIntosh, senior associate Allyson Seger and associate Emily Fawcett.
Involved fees earner: Sean Becker – Vinson & Elkins LLP; Benjamin Cukerbaum – Vinson & Elkins LLP; Emily Fawcett – Vinson & Elkins LLP; Milam Foster Newby – Vinson & Elkins LLP; Michael Gibson – Vinson & Elkins LLP; Devika Kornbacher – Vinson & Elkins LLP; Martin Luff – Vinson & Elkins LLP; Jason McIntosh – Vinson & Elkins LLP; Dario Mendoza – Vinson & Elkins LLP; Kate Rainey – Vinson & Elkins LLP; Allyson Seger – Vinson & Elkins LLP; Ann Elise Stehling – Vinson & Elkins LLP; Shane Tucker – Vinson & Elkins LLP;
Law Firms: Vinson & Elkins LLP;
Clients: PayLease LLC ;