Richardson-based software provider RealPage Inc. announced Jan. 24 it has agreed to acquire Dallas-based Axiometrics, an apartment research firm, for $75 million. RealPage plans to combine Axiometrics with its MPF Research division, which also provides real estate research.
“The acquisition of Axiometrics furthers our goal to become the definitive source for accurate data intelligence regarding the acquisition, operation and disposition of every market-rate apartment in the U.S.,” said Steve Winn, chairman and CEO of RealPage.
In addition, RealPage has entered into a long-term relationship with Real Capital Analytics (RCA), a leading authority on multifamily sales transaction data. Combining data from Axiometrics, MPF Research and RCA with the data analytics technology of RealPage, which is based on millions of real time lease transactions, will create a unique market intelligence platform, according to a news release from RealPage.
“This is a big win for our clients and the multifamily rental housing industry,” said Ron Johnsey, CEO of Axiometrics. “By combining with RealPage, we will vastly expand our data coverage and forecasting capabilities and thereby increase the value we offer to all constituents in the apartment housing industry.”
Founded in 1998 and headquartered in Richardson, RealPage currently serves over 12,000 clients worldwide from offices in North America, Europe and Asia.