“We couldn’t be happier. The SEG team was incredibly efficient, always available to answer any questions along the way and worked hard to ensure a smooth process. Their relationships and deal execution skills were second to none and yielded a range of options amongst the best possible buyers. We would recommend SEG to any company looking for M&A advice, strategy and execution. They truly went above and beyond.”
Dana Zeff, Founder & CEO, and Steven Ozbun, President

SEG Client, LeaseLabs, Acquired By RealPage

Software Equity Group (SEG) announces its client, LeaseLabs, an award-winning provider of cloud-based, digital marketing solutions to the multifamily real estate industry, has been acquired by RealPage, a leading provider of software and data analytics to the real estate industry. The acquisition of LeaseLabs is expected to extend the RealPage marketing platform by adding marketing analytic services, creative content design, direct marketing through social media channels, reputation management and geo-targeting solutions. SEG served as the exclusive advisor to LeaseLabs.

LeaseLabs Full Stack Marketing optimizes lead generation through direct channels, and will be significantly expanded with RealPage solutions providing (i) marketing content, content management, and digital rights management from PropertyPhotos.com, (ii) websites and microsites, and (iii) Intelligent Lead Management (ILM). This combined offering will be branded as the Go Direct Marketing Suite.

Ashley Glover, Chief Operating Officer of RealPage
“LeaseLabs is an innovator of digital marketing solutions for multifamily operators, and RealPage plans to continue to invest in LeaseLabs as a hub of digital marketing innovation, strategy, and organic brand execution. The acquisition of LeaseLabs and launch of the Go Direct Marketing Suite enables us to address the emerging change in spending patterns as our clients shift marketing spend away from indirect lead sources and build long-term equity value in their brand.”

Steven Ozbun, President of LeaseLabs
“LeaseLabs clients depend on us to manage their direct lead channels recognizing that direct leads convert at a higher rate than traditional indirect lead sources. We are thrilled to become part of RealPage as they share our vision of the future of direct digital marketing.”

Dana Zeff, CEO of LeaseLabs
“Our pioneering character, innovativeness and client collaboration have been integral to our platform’s success. RealPage is committed to ensuring we maintain our brand persona in the way we execute and deliver maximum performance for our clients.”
Financial and Operational Highlights

The completion of the acquisition remains subject to certain standard conditions, including the completion of regulatory review. RealPage will acquire substantially all of the assets of LeaseLabs for an initial purchase price of approximately $103 million in cash and stock plus an earn out provision payable in cash of up to approximately $14 million upon achieving certain financial objectives. The acquisition price is subject to working capital adjustments with a 10% holdback for potential indemnification claims. For the full year 2018, LeaseLabs projects standalone revenue of $20 million, representing revenue growth of approximately 25%. The company expects the acquisition of LeaseLabs to contribute revenue of approximately $5 million and to contribute immaterially to its 2018 Adjusted EBITDA during the three month period ending December 31, 2018.

About Software Equity Group

Software Equity Group (SEG) provides unparalleled M&A advisory services for emerging and established software companies. For more than twenty years, SEG has worked alongside its software industry clients to drive extraordinary outcomes for the client’s shareholders, employees and customers. Over this time period, SEG has managed hundreds of sell-side M&A transactions, representing billions of dollars of aggregate transaction value. SEG’s unwavering commitment to the software industry equates to unmatched expertise across software industry product categories, delivery models, technology and end market verticals; and unrivaled access to key decision makers among strategic and private equity buyers.