CARROLLTON, Texas--(BUSINESS WIRE)--RealPage, Inc. (NASDAQ:RP), a leading provider of on-demand software and software-enabled services for the multifamily, commercial, single-family and vacation rental housing industries, announced that it has acquired substantially all of the assets of eSupply Systems, LLC and those of certain entities related to eSupply Systems. eSupply Systems is a San Antonio-based e-procurement software and group purchasing services company.
The addition of this group purchasing organization will provide increased purchasing power and highly competitive pricing structures for RealPage customers. The addition of eSupply Systems’ assets rounds out the company’s spend management offering, by adding a powerful group purchasing service to an already robust eProcurement platform, a network of more than 10,000 vendors, a vendor credentialing service, and purchasing advisory service offerings.
RealPage initially will roll out the group purchasing service to its small and medium-sized customer base—the market segment that has traditionally not benefited from the buying power that larger organizations are able to command. At the same time, vendors benefit because this presents another opportunity to expand their customer base and offer customers easier access to more products at highly competitive prices.
“We’re thrilled to be able to provide a whole new level of service to RealPage customers,” said Jason Lindwall, senior vice president of spend management for RealPage. “Together, with our well-established spend management platform and services, group purchasing will help ensure our customers in every asset class have one, powerful resource for maximizing operational spend.”
“To be able to join forces with a company that has such an extensive vendor network already in place is the ideal situation,” said Dana Castelvecchi, senior vice president of eSupply Systems. “And to be part of the RealPage spend management offering, working with their highly trained purchasing team is an exciting opportunity for all of us.”
The acquisition purchase price of $7.1 million is subject to certain adjustments. $5.5 million of the total consideration was paid at closing and $1.6 million is expected to be paid over the next 18 months subject to indemnification provisions and other post-closing adjustments. eSupply Systems is not expected to have a material impact on RealPage’s 2016 financial performance.
For more information on RealPage spend management, visit www.realpage.com/opstechnology.
RealPage, Inc. is a leading provider of comprehensive property management software solutions for the multifamily, commercial, single-family, and vacation rental housing industries. These solutions help property owners increase efficiency, decrease expenses, enhance the resident experience, and generate more revenue. Using its innovative SaaS platform, RealPage’s on-demand software enables easy system integration and streamlines online property management. Its product line covers the full spectrum of property management, leasing and marketing, asset optimization, and resident services solutions. Founded in 1998 and headquartered in Carrollton, Texas, RealPage currently serves over 11,000 customers worldwide from offices in North America, Europe, and Asia. For more information about the company, visit http://www.realpage.com.