RealPage, Inc. (NASDAQ:RP), a Richardson, Texas-based provider of software and data analytics to the real estate industry, acquired the assets of Simple Bills Corporation, a Waco, Texas-based innovative utility management service dedicated to the student housing market.
The amount of the deal was not disclosed.
Founded in 2008 by Colin Heller, CEO, SimpleBills is a complete utility management company that bills and collects from residents directly, offering time savings to properties. Students receive only their portion of the utility bill, allowing them to split water, electric, gas, cable bills and other shared utilities among roommates. Additionally, they can manage their utilities without paying deposits and utility provider setup fees or contacting providers.
SimpleBills currently serves clients in over 170 markets in 43 states across the U.S.
Founded in 1998, 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 12,100 clients worldwide from offices in North America, Europe and Asia.
RealPage Utility Management (RUM) will add SimpleBills’ services to its current family of products. Because SimpleBills has a direct relationship with the student, the company will be able to deploy it independently of any student solutions companies already use.
Companies will then be able to outsource utility billing in the same way current RealPage clients outsource their affordable housing and vendor compliance, accounting, and IT operations to RealPage.
SimpleBills’ solution is also platform-agnostic, which will enable RealPage to serve SimpleBills clients who operate in other markets such as Multifamily, Single Family, HOA and Senior Living.