RealPage, Inc. (NASDAQ:RP), a Richardson, Texas-based provider of software and data analytics to the real estate industry, is to acquire Rentlytics, a San Francisco, CA-based provider of Software-as-a-Service (SaaS) data analytics platforms to the multifamily real estate industry.
The purchase price of the deal, was approximately $57m in cash.
Founded in 2013 and led by Justin Alanís, CEO, Rentlytics provides owners and operators with normalized data across multiple third-party systems, resolving system incompatibility, data accuracy issues and time-to-analysis delays. It will add nearly multifamily 900,000 units of real time data to the RealPage data analytics platform, giving the acquirer the ability to improve the precision of benchmarking and yield optimization tools.
Rentlytics has developed a Renovation Manager that helps manage renovation workflow and provides better visibility into per-unit and per-property yields achievable through renovations. RealPage intends to begin marketing this product to its clients immediately upon completion of the acquisition.
Founded in 1998 by Steve Winn, CEO, RealPage is a global provider of software and data analytics to the real estate industry. Clients use its platform to improve operating performance and increase capital returns. The company currently serves over 12,400 clients worldwide from offices in North America, Europe and Asia.