Private equity owners of MRI Software are considering options, including a sale or public listing on a U.S. exchange. The software maker could be valued at up to $10 billion, generating $400 million in EBITDA annually. GI Partners and TA Associates stand to make significant returns on their investments.

The consortium, which includes TA Associates, Harvest Partners, and GI Partners, is working with Goldman Sachs on the potential sale or listing. MRI Software, based in Ohio, offers software for real estate management, generating over half of its revenue internationally. The company maintains a 10% annual growth rate.

If the sale or listing goes through at the $10 billion valuation, it would be a lucrative exit for MRI Software’s private equity backers. Application software firms, especially in real estate, are attractive to private equity buyers due to their stable recurring revenue. Altus Group, another real estate software provider, is also exploring a potential sale after receiving acquisition interest.

Read more at Yahoo Finance: Exclusive-Private equity owners of MRI Software target sale or IPO at $10 billion valuation, sources say