RealPage Inc. Buys Bill-paying Company Founded by Baylor University Roommates

Richardson-based RealPage Inc. is adding to its real estate analytics and software expertise with Waco-based SimpleBills Corp.SimpleBills allows students to split utility bills among roommates. Two Baylor University students founded the company in 2008.The deal’s value wasn’t disclosed.“We’re adding game-changing power to our student offerings, giving our clients the ability to fully outsource their utility needs,” Jason Lindwall, senior vice president of RealPage, said in a statement.SimpleBills streamlines payments for water and gas into one bill per person. It handles payments to utility companies, tracks excessive charges and provides PDF copies of bills to customers. The company operates in 43 states and employs 75 people. Chief executive Colin Heller called the acquisition a “thrilling opportunity” and said the company would expand to serve non-student markets. Those markets could include multifamily and senior living settings, the companies said.“With the unmatched support and development resources available at RealPage, we will be able to provide even more state-of-the-art simplicity and outstanding customer experiences in student and in entirely new markets,” Heller said in a statement.RealPage has bought up 40 smaller companies since 2002. It’s part of the company’s strategy to gain new clients and stay ahead of similar companies and technologies.The company acquired CRE Global Enterprises LLC in June. It was the firm’s first purchase of the year after it spent $350 million on acquisitions in 2018.It paid $103 million for LeaseLabsin August 2018. The San Francisco digital marketing firm serviced 800,000 apartments at the time. Four months earlier, it shelled out $218.5 million for ClickPay, an electronic payment platform servicing more than 2.3 million apartments and condominiums.Earlier buys include On-Site Manager Inc., American Utility Management, Lease Rent Options and Axiometrics.The strategy is benefiting the company's top line. RealPage reported $870 million in revenue for 2018, up from $671 million in 2017 and $568 million in 2016.  Continue reading...

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