Bruker Corporation is approaching to acquire Divvy Homes for nearly $950 million through Field Asset Management (BAM.US).

According to sources familiar with the matter, Bruker Corporation Field Asset Management (BAM.US) is set to finalize a deal to acquire the startup company Divvy Homes, purchasing 3,800 detached homes for approximately $950 million. Sources say that about 65% of the homes are located in markets such as Atlanta, Dallas, and Tampa. Following the acquisition, Maymont Homes, a subsidiary of Bruker Corporation Field Asset Management, will manage around 20,000 properties. Sources also state that the deal is not yet finalized and could still fall through. Divvy Homes is a US "rent-to-own" housing loan platform founded in 2017. The company partners with individuals who want to become homeowners but cannot obtain financing, allowing renters to choose a house they want to own someday, pay a small down payment, move in, and make monthly payments. All of this is done so that buyers can build equity in the home over the course of a few years. Ideally, within about three years, renters will have improved their credit scores, built equity in the home, and be eligible for financing. Previously, high home prices and low interest rates made Divvy Homes' business model attractive to potential buyers. Venture capital firms also liked the idea. In 2021, Divvy Homes received a $2 billion valuation in a new funding round led by Tiger Global Management and Caffeinated Capital. However, high interest rates have challenged Divvy Homes' business model, making it more difficult for the company's customers to fulfill contracts and raising the company's own funding costs. In August 2023, Divvy Homes announced in a blog post that they would pause acquisitions and plan to resume them "once interest rates drop significantly." Shortly after, the company underwent a round of layoffs.