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HAPPY Software Acquired by MRI Software
HAPPY’s fully-configurable, web-based portal solutions will be extended to MRI’s existing PHA clients and leveraged to further develop their next-generation, web-based platform for the public and affordable housing market.
Joe Mastrianni
,
CEO & Founder
I can’t say enough good things about the team at Software Equity Group. They were with us throughout the whole process, no matter the time of day or the naiveté of our questions. As the founder and CEO, I went into the biggest transaction of my life knowing the odds were stacked against me. I looked at it this way, pretty much everybody loses their first game of chess, and I wanted to win. So, I hired the Bobby Fisher of software M&A deals as my coach and partner. Checkmate!"
- Joe Mastrianni, Chief Executive Officer and Founder, HAPPY Software
SEG served as exclusive advisor to HAPPY Software
Client Description
The company
HAPPY Software is a leading provider of friendly software solutions to public housing agencies (PHAs) of every size, with a primary emphasis on Housing Choice Voucher (HCV) and Public Housing programs. HAPPY Software provides streamlined, easy-to-use software that keeps over 465 PHA’s continually in compliance with HUD’s ever changing rules and regulations.
The software
Over the course of 20 years, HAPPY has built a well-established reputation for quality, easy-to-use products and friendly, attentive customer support.
Headquarters
Saratoga Springs, NY
Buyer Description
The company
MRI Software is a leading provider of innovative real estate software applications and hosted solutions.
Headquarters
Cleveland, OH
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PRESS RELEASE OVERVIEW
SEG Client, HAPPY Software, Acquired by MRI Software
March 8, 2017 — Software Equity Group (SEG) announces its client, HAPPY Software, a provider of innovative housing solutions and services for public housing authorities in the United States, has been acquired by MRI Software, a global leader in real estate software solutions. With this acquisition, MRI’s third within the public housing space in just five months, the company now serves nearly 35 percent of U.S. public housing authorities. SEG served as exclusive advisor to HAPPY Software.
Based in Saratoga Springs, New York, HAPPY Software provides property management solutions to more than 465 housing agencies of every size, administering Public Housing and Housing Choice Voucher programs. HAPPY’s suite of fully configurable, web-based portal solutions help housing authorities more effectively manage key functions such as applicant and waitlist tracking, tenant screening, and online payment handling.
“For two decades, HAPPY Software has built a standard for excellence culminating in today’s impressive 98 percent client retention rate,” said David Carner, Senior Vice President of Residential Solutions at MRI Software. “The addition of HAPPY to the MRI Software family represents another milestone in our strategy to provide world-class technology solutions to the public housing sector while further scaling our footprint in the market. We intend to continue supporting HAPPY’s solution set and extend its portal offerings to our existing PHA clients, while also leveraging HAPPY’s expertise to develop a next-generation, web-based platform for the public and affordable housing market.”
In October of 2017, MRI announced the acquisitions of Tenmast Software and HAB, Inc., providers of PHA and private affordable housing management software. Taken together, MRI’s three public housing acquisitions, in addition to the company’s Affordable Housing Bostonpost solutions, make MRI a major force in the U.S. public and affordable housing software markets.
“Our mission at HAPPY Software has always been to provide public housing organizations with the very best software solutions and the highest level of service,” said Joe Mastrianni, Chief Executive Officer and founder of HAPPY Software. “Joining forces with MRI is a continuation of that mission, bringing a deep reserve of resources and innovation to develop feature and functionality enhancements that will even better serve the industry.”