RealPage Acquires American Utility Management for $70 Million

Richardson, Texas — Richardson-based RealPage Inc. has acquired American Utility Management, a leading provider of utility and energy management solutions for the multifamily industry, for $70 million.

The acquisition expands the company’s Resident Utility Management (RUM) platform providing billing, invoice processing and bill payment services to over 2.5 million rental units. This expansion follows on the heels of RealPage’s acquisition of Lease Rent Options for $300 million in February, and Axiometrics for $75 million in January.

“I am excited to join forces with the AUM team,” says Steve Winn, chairman and CEO of RealPage. “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. In addition, AUM has developed an energy management platform that enables operators to benchmark energy consumption and cost against their peers. By combining data captured by RealPage with the data available from AUM, we expect to create the largest and most accurate database of utility consumption and cost data in the industry.”

RealPage expects the acquisition to contribute approximately $15 million in revenue and an adjusted EBITDA range of $2 to $3 million during 2017. The AUM team will report to Jason Lindwall, senior vice president of property management solutions for RealPage, with integration work expected for completion by the end of 2018.

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