Thursday, May 15, 2014

RealPage Buys Risk Mitigation, Compliance Provider

Carrollton, Texas-based property management software developer RealPage said late Wednesday that it has acquired selected assets of Notivus Multi-Family, LLC, a provider of risk mitigation and compliance services. RealPage is paying $3.6M in cash, plus earnout of $0.8M for Notivus, and will pay management incentive bonuses of $3.1M if certain revenue targets are met for the next three years. RealPage said it will use Notivus to expand its Compliance Depot product. Notivus was based in Alpharetta, Georgia.