MidOcean Partners announced it has signed a definitive agreement to sell Zonda to CoStar Group, Inc. (NASDAQ: CSGP), according to a company statement.

Zonda, operating as Bora, Inc. and its subsidiaries, provides data, marketplace, and software services for the residential housing market. The company offers subscription-based data covering housing metrics across North America, operates new-home marketplaces in the U.S. and Canada, and provides software solutions for home evaluation experiences.

During MidOcean's ownership, Zonda completed nine acquisitions and expanded its geographic coverage. The company invested in AI-driven data collection tools and launched products targeting what the firm described as a $27 billion total addressable market. Zonda achieved more than 50 consecutive quarters of year-over-year annual recurring revenue growth under MidOcean's ownership.

"With Zonda's visionary management team, we set out to create the preeminent platform for data, insights and technology across the residential housing ecosystem," said Sara Badham, Managing Director at MidOcean.

Jeff Meyers, Founder and Chief Executive Officer of Zonda, stated that MidOcean's "strategic insight, operational support, and capital partnership were instrumental in transforming Zonda into the platform it is today."

Houlihan Lokey Capital, Inc. served as lead financial advisor to MidOcean, while Solomon Partners Securities, LLC. also advised the company. Gibson, Dunn & Crutcher LLP provided legal counsel to MidOcean.

The transaction represents MidOcean's third liquidity event this month. Financial terms of the sale were not disclosed in the announcement.