“I hired SEG after attempting to close a deal without a banker and continued to receive inbound inquiries from strategic and private equity buyers. Man was I glad the first deal did not close! SEG drove a highly competitive process that culminated in a phenomenal outcome far exceeding our expectations. I believe it was one of the highest ARR multiples in our vertical. Best of all, we really resonated with their team and enjoyed working together. SEG for life!”
John Hinckley, CEO, Modern Message

SEG Client, Modern Message, Acquired by RealPage

January 22, 2020 -- Software Equity Group (SEG) announces its client, Modern Message, has been acquired by RealPage, Inc. (NASDAQ:RP), a leading global provider of software and data analytics to the real estate industry. Modern Message is a leading provider of resident engagement solutions to the multifamily real estate industry. Modern Message has seen rapid adoption of its platform by over half the property management companies in the NMHC Top 50. SEG served as exclusive advisor to Modern Message.

Modern Message’s flagship resident engagement platform, Community Rewards, builds meaningful engagement through a fully mobile UI that is motivating, rewarding, fun, and interactive for property residents. Higher engagement leads to greater resident loyalty and referrals, which boosts property reputation and value.

The Modern Message platform uniquely rounds out the RealPage® ActiveBuilding® resident portal platform, which is the industry leader in payments, resident communication and monetization of rentables and amenities. RealPage plans to combine the two platforms to offer property management companies a complete renter engagement solution with significant benefits:

- Exceptional engagement that drives increased leasing, retention, resident use of payments and eCommerce transactions for amenities and other services
- Proven resident behavior motivation via a high-value, points-based rewards program where residents accumulate points that can be redeemed for a property’s amenities, reward cards and third-party marketers’ discounts and perks
- Improved property reputation, a known driver of lead to lease conversion rates
- A data-driven solution for benchmarking engagement and reputation
- Enhanced communications that build connections between onsite teams and residents
- A user-friendly, community branded, mobile interface that will work with any popular property management software platform
- Automation of the delivery of any lease or renewal incentives offered to residents or prospects

Jon Pastor, Senior Vice President of Consumer Solutions at RealPage

“Modern Message provides a unique boost to our already powerful resident engagement platform. The two solutions joined together enable our clients to give residents a rich rewards experience, boost ancillary revenue, resident loyalty and reputation scores, and see greater adoption of their RealPage solutions. In short, we will be able to offer clients and residents the full potential of a resident portal.”

John Hinckley, Co-founder of Modern Message

“This is a great time to become part of the RealPage team. ActiveBuilding will be the perfect gateway to deliver Modern Message’s resident engagement programs to a broader industry audience while maximizing results. We are also looking forward to exploring new opportunities that may arise from the combined platform. It’s beyond exciting.”

Mike Ivey, Co-founder of Modern Message

“We immediately saw that RealPage shared our vision for resident engagement and loyalty. As a result, we are thrilled to continue on our mission and introduce our existing clients to the expanded capabilities available once the two platforms are combined. In the meantime, we will continue to support the Modern Message platform and deliver the same excellent service our clients have come to know and expect.”

RealPage expects to retain Modern Message’s employees and operations, which will be moved from downtown Dallas to the RealPage corporate headquarters in Richardson, Texas.

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.