Richardson's RealPage Buys Another Company

Richardson-based apartment software and services firm RealPage Inc. has made its third purchase so far in 2017.RealPage said Monday that it's paying $70 million to buy 300 million in cash for American Utility Management, a provider of utility and energy management systems for the apartment industry.American Utility Management has been in business since 1994 and is based in Illinois."We believe this acquisition will provide more scale to our resident billing operations, lowering our costs to deliver the platform so we can focus on improving innovation and product quality for our clients," RealPage chairman Steve Winn said in a statement. "In addition, AUM has developed an energy management platform that enables operators to benchmark energy consumption and cost against their peers."American Utility Management had revenue of about $30 million last year.RealPage said the purchase should contribute about $15 million a year to its sales.RealPage - which recently relocated its headquarters of Richardson's Telecom Corridor - has been gobbling up other firms in recent months.In February RealPage paid $300 million for Lease Rent Options, an Atlanta apartment revenue management firm.And in January RealPage spent $75 million to buy apartment research firm Axiometrics.RealPage currently has more than 11,200 apartment industry clients worldwide.  Continue reading...