RealPage’s $100 million acquisition of LeaseLabs is now complete.
The acquisition of LeaseLabs is just the latest for RealPage, a provider of software and data analytics to the real estate industry. This is RealPage’s sixth since January 2017 and pushes the company’s total outlay for its recent expansion past $1 billion.
Last year, RealPage announced that it was expanding its apartment data offerings by acquiring Axiometrics, a provider of apartment market data, for $75 million. Then, RealPage announced that it planned to acquire Lease Rent Options and related assets from The Rainmaker Group for $300 million in cash.
After that, RealPage announced that it was acquiring American Utility Management, a provider of utility and energy management solutions for the multifamily housing industry, for $70 million.
Then, RealPage announced that it was acquiring “substantially all of the assets” of On-Site Manager for approximately $250 million. And earlier this year, RealPage announced that it was acquiring ClickPay, an electronic payment platform servicing 2.3 million units across the multifamily, HOA, condominium and co-op segments of real estate, in a $218 million deal.
And now, RealPage is growing its marketing services business by acquiring LeaseLabs, a provider of digital marketing services and software to approximately 800,000 units in the multifamily housing industry.
When RealPage announced the deal, the company said that it is “expected to extend the RealPage marketing platform by adding marketing analytic services, creative content design, direct marketing through social media channels, reputation management and geo-targeting solutions.”
According to RealPage, it plans to combine LeaseLabs' services, which include content design, marketing analytic services, social media marketing, email marketing, website development, and SEO services, with its own marketing services, which include content management, digital photo rights, and lead management, to launch a new offering called the “Go Direct Marketing Suite.”
The deal, which was initially announced last month, saw RealPage acquire “substantially all” of LeaseLabs’ assets for an initial purchase price of approximately $103 million in cash.
“We are excited to welcome the LeaseLabs team and to combine the unique strengths of both platforms,” said Jon Pastor, RealPage’s senior vice president of consumer solutions. “RealPage combined with LeaseLabs creates a powerful marketing platform that will allow owners and operators to ‘Go Direct’ with their advertising and marketing spend, thereby increasing the number of qualified leads, accentuating their brand and reducing overall marketing costs.”
