Key Developments: RealPage Inc (RP.O)
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Latest Key Developments (Source: Significant Developments)
RealPage Inc to Acquire MyNewPlace
RealPage Inc announced that it entered into a definitive agreement to acquire Multifamily Technology Solutions, Inc. (MTS) which offers an Internet listing service for rental properties marketed under the trade name MyNewPlace and a suite of syndication and organic lead generation tools marketed under the trade name Rent Engine. The Company will acquire MTS for approximately $74.4 million, net of cash expected to be acquired. The purchase price will consist of approximately $63.6 million in cash and approximately $10.8 million paid with shares of RealPage common stock. The Company expects to close the transaction after closing conditions are met, which should be on or prior to Aug. 24, 2011. Full Article
RealPage Inc Issues Q3 2011 Guidance In Line With Analysts' Estimates; Raises Low End Of Prior FY 2011 Revenue And EBITDA Guidance; Raises FY 2011 Net Income And EPS Guidance
RealPage Inc announced that announced that for third quarter of 2011, it expects non-GAAP total revenue to be in the range of $65.7-$66.7 million, adjusted EBITDA is expected to be in the range of $15.0-$15.5 million and Non-GAAP net income is expected to be in the range of $6.6-$6.9 million, or $0.09 to $0.10 per diluted share (EPS). For fiscal 2011, it expects Non-GAAP total revenue to be in the range of $255.0-$259.0 million, adjusted EBITDA in the range of $57.0-$60.0 million and non-GAAP net income to be in the range of $25.3-$27.1 million, or $0.35 to $0.37 per diluted share. According to I/BE/S Estimates, analysts on an average are expecting the Company to report revenue of $66 million, EBITDA of $15 million, net income of $6.7 million and EPS of $0.09 for third quarter of 2011; revenue of $256 million, EBITDA of $59 million, net income of $26 million and EPS of $0.35 for fiscal 2011. Full Article
Realpage Inc Acquires SeniorLiving.Net
RealPage, Inc. announced the acquisition of SeniorLiving.Net (SLN), an Internet lead generation and placement network for the senior housing market. SLN helps families with aging parents find senior care providers that can address their care needs, desired location and budget. The service is no cost to the families. SLN provides each family with a skilled Care Advisor familiar with the local market to help them through the process. SLN generates leads through over 200 websites and affiliates that provide information to families. Care Advisors work with the family to create a care profile that is then matched with the communities in their area that meet their care and budget needs. The Company paid $4.5 million in cash with the potential to earn additional consideration upon achieving future financial targets through June 2014. Full Article
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