RealPage Inc is acquiring substantially all the assets of On-Site Manager Inc., a leasing platform for property managers and renters.
The transaction's price tag is $250 million in cash, subject to working capital adjustments and post-acquisition indemnification claims.
RealPage plans to continue to support the On-Site platform. The acquisition is expected to add approximately $50 million in revenue and $9 million in adjusted EBITDA for calendar year 2017. Integration is projected to finish in 2018.
Vista Point Advisors served as On-Site's financial adviser in the transaction.