Tuesday, August 23, 2011

RealPage Acquires MyNewPlace

Carrollton-based RealPage, the developer of software-as-a-service for the housing rental industry, said Monday evening that it has entered into a definitive agreement to acquire MyNewPlace, an Internet-based, listing service for rental properties. RealPage said it purchased Multifamily Technology Solutions, Inc., the operator of MyNewPlace, for $74.4M, net of cash expected to be acquired. The deal is split between $63.6M in cash plus $10.8M in its common stock. RealPage said the buy would help it expand its lead origination and syndication capabilities.