RealPage Acquires Lease Rent Options For $300M

Richardson, Texas-based RealPage said late Monday that it has agreed to acquire Lease Rent Options (LRO), a provider of revenue management software for apartments owners and operators, in a deal worth $300M in cash. Lease Rent Options was owned by The Rainmaker Group. RealPage said LRO is used for pricing for over 1.5 million apartments. RealPage the deal will expand its solutions for data analytics and asset optimization for the rental housing industry. The company said LR had revenues of $35.6M for the year ended December 31, 2016.