Richardson, Texas-based software provider RealPage has acquired Addison, Texas-based Axiometrics for $75M in cash. RealPage also entered into a long-term relationship with RCA, the multifamily sales transaction data platform. RealPage will combine Axiometrics' multifamily data with its own MPF Research and RCA as part of a strategy to emphasize data and analytics.
“Axiometrics will also play a key role and is expected to contribute to the company’s 2020 goal of $1B in revenue,” RealPage chief economist Greg Willett said. The deal will close next month and the acquisition will be fully integrated by early 2018.
Axiometrics had revenue of $14M in 2016, a 27% growth rate compared to 2015.
In December, Axiometrics transitioned its top executives. Founder Ron Johnsey became chairman of the board and CEO, while Keith Walters was named president and chief operating officer. The growing organization saw a 46% year-over-year booking increase in 2016.
As of now, no personnel changes will be made to Axiometrics. Clients of RealPage/MPF and Axiometrics will continue to receive data from their respective analytics platform.
“Axiometrics' data assets combined with the RealPage’s data assets and analytics capabilities would create a dominant platform in rental housing,” Willett said.
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