RICHARDSON, Texas–(BUSINESS WIRE)–Oct 12, 2018–RealPage, Inc. (NASDAQ: RP ), a arch provider of software and abstracts analytics to the absolute acreage industry, today appear that it has entered into an acceding to access Rentlytics, which will aggrandize the company’s business intelligence and achievement analytics belvedere by about 900,000 added multifamily units.
Rentlytics provides owners and operators with normalized abstracts beyond assorted third-party systems, absolute arrangement incompatibility, abstracts accurateness issues and time-to-analysis delays.
Rentlytics integrates with added acreage administration software platforms than RealPage, thereby extending our adeptness to consolidate accounting and operating KPIs from added sources.Rentlytics adds about 900,000 units of absolute time abstracts to the RealPage abstracts analytics platform, giving RealPage the adeptness to advance the attention of benchmarking and crop access tools. About 200,000 units are new to RealPage.Rentlytics has developed a new artefact alleged “Renovation Manager” that helps administer advance workflow and provides bigger afterimage into per-unit and per-property yields accessible through renovations. Over 10,000 backdrop are beneath advance in the U.S. today as owners amplitude for college rental yields. RealPage intends to activate business this artefact to its audience anon aloft achievement of the acquisition.
Steve Winn, Chairman and CEO of RealPage: “Rentlytics expands our abstracts brand in the multifamily industry, thereby convalescent our benchmarking and attention forecasting capabilities. We intend to amalgamate the absolute time abstracts that Rentlytics has accumulated with our absolute business intelligence and abstracts analytics platform, and activity the industry a added powerful, aerial attention apparatus to admeasurement banking and operating performance.”
Justin Alanís, CEO of Rentlytics: “I founded Rentlytics with the eyes of aing bodies and the technologies in our industry to the abstracts that they charge to accomplish decisions. I am appreciative of the advance that our aggregation has fabricated appear accomplishing that ambition and the audience that we accept serviced. I apparent that RealPage shares our eyes of the adeptness of data, and accept that, by accumulation our altered platforms, we can advance the development of first-in-class analytics solutions for our clients.”
Keith Dunkin, SVP of RealPage Asset Optimization: “The accepted Rentlytics belvedere is a accurate value-add to owners and operators, and we apprehend to abide to abutment it. Over time, we accept a accumulated RealPage and Rentlytics band-aid will activity an alike added acute advantage to clients. I am aflame to acceptable Rentlytics to our family, and attending advanced to utilizing Justin’s ample adeptness as we accommodate our two platforms.”
The achievement of the accretion charcoal accountable to assertive accepted conditions, which the aggregation expects to be annoyed above-mentioned to the advancing aing ancient during the anniversary of October 15, 2018. The aggregation will access Rentlytics for an antecedent acquirement amount of about $57 actor in cash. The accretion amount is accountable to alive basic and added adjustments and a holdback for abeyant apology claims. The aggregation expects the accretion of Rentlytics to accord acquirement of about $1.5 actor and to accord immaterially to its 2018 Adjusted EBITDA during the three-month aeon catastrophe December 31, 2018. In addition, RealPage expects Rentlytics to accord acquirement of about $9 actor during the abounding year catastrophe December 31, 2019, apery advance of 35%.
RealPage is a arch all-around provider of software and abstracts analytics to the absolute acreage industry. Audience use its belvedere to advance operating achievement and access basic returns. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves over 12,400 audience common from offices in North America, Europe and Asia. For added advice about RealPage, amuse appointment www.realpage.com.
Rentlytics is a arch provider of Software-as-a-Service (SaaS) abstracts analytics platforms to the multifamily absolute acreage industry. Headquartered in San Francisco, Rentlytics was founded in 2013 to break the amount analytic claiming of avant-garde multifamily businesses today: bringing all of the abstracts important to their portfolios into one place, authoritative it accessible to assay and booty action. Today, Rentlytics helps abounding of the world’s bigger multifamily absolute acreage investors and managers advantage abstracts to drive bigger portfolio achievement and abound returns. For added advice about Rentlytics, amuse appointment https://rentlytics.com.
Cautionary Statement Apropos Forward-Looking Statements
This columnist absolution contains “forward-looking” statements apropos to the accepted allowances of the Rentlytics acquisition, including statements apropos the adeptness of the accumulated companies to consolidate accounting and operating KPI’s from added sources, acceptable the adeptness of RealPage to advance the attention of benchmarking, crop access and attention forecasting tools, the abeyant allowances of the Rentlytics Advance Manager product, the adeptness of RealPage to activity a added powerful, aerial attention apparatus to admeasurement banking and operating performance, the adeptness to advance the development of a first-in-class analytics band-aid to clients, Rentlytics’ acquirement projections and addition to RealPage’s 2018 acquirement and Adjusted EBITDA, and Rentlytics acquirement and advance projections in 2019. These advanced statements are based on management’s behavior and assumptions and on advice currently accessible to management. Advanced statements accommodate all statements that are not absolute facts and may be articular by agreement such as “expects,” “believes,” “plans,” or agnate expressions and the negatives of those terms. Those advanced statements absorb accepted and alien risks, uncertainties and added factors that may account absolute results, achievement or achievements to be materially altered from any approaching results, achievement or achievements bidding or adumbrated by the advanced statements. Added factors that could account or accord to such differences include, but are not bound to, the following: (a) the achievability that accepted bread-and-er conditions, including leasing acceleration or uncertainty, could account advice technology spending, decidedly in the rental apartment industry, to be bargain or purchasing decisions to be delayed; (b) an access in allowance claims; (c) an access in chump cancellations; (d) the disability to access sales to absolute barter and to allure new customers; (e) RealPage’s abortion to accommodate Rentlytics or added acquired businesses and any approaching acquisitions auspiciously or to accomplish accepted synergies; (f) the timing and success of new artefact introductions by RealPage or its competitors (including articles acquired through Rentlytics or through added acquisitions); (g) changes in RealPage’s appraisement behavior or those of its competitors; (h) acknowledged or authoritative proceedings; (i) the disability to accomplish acquirement advance or to accredit allowance expansion; and (j) such added risks and uncertainties declared added absolutely in abstracts filed with or furnished to the Securities and Exchange Commission (“SEC”) by RealPage, including its Annual Report on Form 10-K filed with the SEC on March 1, 2018 and its Quarterly Report filed with the SEC on August 6, 2018. All advice provided in this absolution is as of the date hereof and RealPage undertakes no assignment to amend this advice except as appropriate by law.
View antecedent adaptation on businesswire.com:https://www.businesswire.com/news/home/20181012005083/en/
Rhett Butler, 972-820-3773
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: RealPage, Inc.
Copyright Business Wire 2018.
PUB: 10/12/2018 09:00 AM/DISC: 10/12/2018 09:01 AM
Copyright Business Wire 2018.
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