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LeaseLabs to be acquired by RealPage
Posted on Friday, 03 August 2018 14:17
In a move to expand its marketing platform, RealPage has announced it is to pick up creative design and analytics company LeaseLabs for USD 103.00 million.
The purchase price is subject to working capital adjustments and includes an earn out provision of USD 14.00 million, payable in cash upon meeting certain financial objectives.
Combined, the businesses will be branded as the Go Direct Marketing Suite.
As a result of the acquisition, RealPage looks to increase its portfolio with services such as creative design content, marketing through social media and geo-targeting solutions, among others.
LeaseLabs will also reap the benefits of the deal with access to the buyer’s websites and microsites, digital rights management from PropertyPhotos.com, as well as its intelligent lead management software.
RealPage expects the target to add revenue of USD 5.00 million and to contribute immaterially to its 2018 adjusted earnings before interest, taxes, depreciation and amortisation in the last three months of the year ending 31st December 2018.
Headquartered in San Diedo, LeaseLabs claims to be an award-winning business, specialising in creative design and marketing analytics.
It currently serves over 260 management companies across the US, with a product range including digital touchpoints, scrolling page architecture and state of the art website creation.
Ashley Glover, chief operating officer of the buyer, said: “The acquisition of LeaseLabs and launch of the Go Direct Marketing Suite enables us to address the emerging change in spending patterns as our clients shift marketing spend away from indirect lead sources and build long-term equity value in their brand.”
Formed in 1998, Texas-based RealPage claims to be a leading global provider in software and data analytics.
It currently has over 12,400 clients spanning from North America to Europe and Asia.
The company achieved a revenue of USD 671.00 million in the financial year ending 31st December 2018.
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