Acquisition expands company’s offering to institutional owners of real estate
CARROLLTON, Texas (May 17, 2016) – RealPage, Inc. (NASDAQ:RP), a leading provider of on-demand software and software-enabled services for the multifamily, commercial, single-family and vacation rental housing industries, has acquired AssetEye, Inc. AssetEye® is a leading data aggregation, reporting and collaboration platform for institutions holding multiple real estate asset classes. The acquisition will serve to expand RealPage’s SaaS offering to serve all asset classes, including commercial, hospitality, multifamily, single family, senior living and student housing.
AssetEye software provides asset and portfolio managers with a solution to evaluate performance, trends, and operations across a portfolio with transparency into property-level data. On-demand analytics allow stakeholders to quickly combine financial results and operating metrics based upon portfolio attributes that help evaluate asset management strategies. The AssetEye platform includes data aggregation services (DAS) that accept files from a variety of sources, including all popular property management systems for all asset classes. DAS manages the timely collection, validation, and governance of data sources that feed complex reporting and business intelligence applications. In addition, AssetEye consolidates and manipulates data from its DAS database and distributes it to owners, investors, managers or any other portfolio stakeholder in the form of reports and dashboards.
“I’m thrilled to have the features and capabilities of AssetEye working for RealPage and our future prospects,” said Alan James, senior vice president, investment management and commercial, RealPage. “This acquisition helps round out our real estate offering by providing investment professionals with got an easy-to-use solution that helps them make better business decisions.”
In addition, AssetEye provides configurable, investor-oriented key performance indicators or key success indicators by asset type. These business metrics are then rendered by dashboards for internal and external stakeholders that help measure and monitor progress against organizational goals.
“I’m excited to join a proven market leader in RealPage and help lead its expansion into serving a broader set of asset classes,” says AssetEye founder Greg Sherman, who will lead product management of RealPage’s Portfolio Asset Management offering. “RealPage is committed to developing new and innovative solutions to take this suite to the next level and benefit current and future customers.”
The acquisition purchase price of $4.8 million, net of cash acquired, is subject to certain adjustments. In addition, incremental earn-out consideration may become payable upon the achievement of certain financial and operational milestones. AssetEye is not expected to have a material impact on RealPage’s 2016 financial performance.
The AssetEye suite of solutions will be marketed under the name Portfolio Asset Management. To learn more, visit: https://www.realpage.com/asset-investment-management/portfolio-asset-management/.
RealPage, Inc. is a leading provider of comprehensive property management software solutions for the multifamily, commercial, single-family, and vacation rental housing industries. These solutions help property owners increase efficiency, decrease utility expenses, enhance the resident experience, and generate more revenue. Using its innovative SaaS platform, RealPage’s on-demand software enables easy system integration and streamlines online property management. Its product line covers the full spectrum of property management, leasing and marketing, asset optimization, and resident services solutions. Founded in 1998 and headquartered in Carrollton, Texas, RealPage currently serves over 11,000 customers worldwide from offices in North America, Europe, and Asia. For more information about the company, visit https://www.realpage.com.