RealPage Inc., a provider of software and data analytics to the real estate industry, has agreed to acquire substantially all of the assets of apartment market data provider Axiometrics.
RealPage will pay approximately $75 million in cash for the transaction, subject to working capital adjustments and post-acquisition indemnification claims. The transaction is expected to close in February.
Axiometrics will be combined with RealPage's division MPF Research. The company expects the acquisition of Axiometrics to represent a valuation of about 8x EBITDA after full integration by early 2018.
In addition, RealPage entered into a long-term relationship with multifamily sales transaction data provider Real Capital Analytics Inc. The company said a combination of data from Axiometrics, MPF Research and Real Capital Analytics will allow it to create a unique market intelligence platform.