RealPage Expands Rental Housing Suite, acquires Lease Rent Options & Axiometrics

RealPage recently announced acquisitions of Lease Rent Options (LRO) and Axiometrics for $300 million and $75 million, respectively. LRO’s revenue management platform and Axiometrics’ multifamily data and analytics offering consolidates RealPage’s position within the multi-family revenue optimization segment.

These deals represent RealPage’s largest acquisitions to date. Sizable prior deals include MyNewPlace ($74.9 million), NWP Services ($70 million), and Level One ($62 million).

Brief Transaction Details (LRO):

Total Transaction Value (m) $300.0
TTM Seller Revenue (m) $35.6
TTM Seller EBITDA (m) $10.0
TTM Revenue Multiple  8.4x
TTM EBITDA Multiple 30.0x

Brief Transaction Details (Axiometrics):

Total Transaction Value (m) $75.0
TTM Seller Revenue (m) $13.8
TTM Revenue Multiple 5.4x
Seller Business Descriptions:

LRO: a developer of SaaS-based revenue management and profit optimization solutions for multi-family and hospitality companies.  See Press Release

Axiometrics, Inc: Axiometrics, Inc. engages in conducting research on the U.S. apartment market. See Press Release.

Buyer Business Description:

RealPage, Inc. provides software and data analysis for the real estate industry in the United States.