Tue, Feb. 23, 6:12 PM
- Along with its Q4 results, RealPage (NASDAQ:RP) has announced it's buying NWP Services Corp., a firm described as "a leading provider of cloud-based resident billing, electronic payments, energy management, back office accounting and IT infrastructure solutions." RealPage is paying $68M in cash, or $70M after factoring net debt.
- NWP had 2015 revenue of $58M, and EBITDA of $6M. RealPage notes it offers solutions similar to NWP's across part of its platform, and predicts combining its offerings with NWP's will "create the leading resident billing, energy management, and back office services platform in the rental housing industry."
- CFO Bryan Hill: "We expect to realize significant synergies once we integrate the best of both platforms, removing redundant technology as well as back-office costs. An important secondary benefit of the acquisition is the addition of approximately 200,000 new rental housing units that provide RealPage with an opportunity to cross-sell our current solutions."
- Q1 guidance is for revenue of $125M-$127M and EPS of $0.16 vs. a consensus of $125.3M and $0.15. 2016 guidance is for revenue of $565M-$575M and EPS of $0.68-$0.72 vs. a consensus of $523.4M and $0.63. However, the guidance assumes NWP will respectively contribute $2.5M and $45M to Q1 and 2016 revenue, as well as $0.3M and $5M to adjusted EBITDA.
- RealPage is currently unchanged after hours.
- RealPage's Q4 results, earnings release
Oct. 23, 2014, 5:16 PM
Oct. 29, 2013, 11:45 AM
- RealPage (RP -1.2%) acquires online apartment community platform ActiveBuilding. Terms were undisclosed.
- ActiveBuilding provides residents messaging, package delivery, and local deals services.
- The acquisition provides a complimentary set of features to RealPage's Resident Portal, which offers billing, maintenance, and lease renewal services.
Oct. 25, 2013, 1:01 PM
- RealPage (RP +0.3%) acquires affordable housing compliance monitoring services provider Windsor Compliance. Terms were undisclosed.
- RealPage will marry its affordable housing software with Windsor's compliance monitoring services.
- Windsor's services currently cover over 30K housing units in the U.S.
Aug. 22, 2011, 5:35 PM
RealPage (RP) says it's buying Internet listing service Multifamily Technology Solutions for approximately $74M. As a result, it's reducing EPS guidance for Q3, now saying EPS will be around $0.09 versus a consensus view of of $0.11 per share. Shares -6.2% AH.| Aug. 22, 2011, 5:35 PM