Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

The Associated Press August 22, 2011, 5:46PM ET

RealPage to acquire MyNewPlace for $74.4M

Property management company RealPage Inc. said Monday it agreed to buy Multifamily Technology Solutions Inc., which owns the Internet listing service for rental properties called MyNewPlace, for $74.4 million in cash and stock.

RealPage will pay $63.6 million in cash and $10.8 million in stock.

The deal is expected to close Wednesday.

RealPage said the deal will increase the number of property units that use one of RealPage's products and services to 6.9 million.

The company now expects revenue of $67 million to $68 million in the third quarter ending Sept. 30. Analysts expect $66.3 million.

Shares of RealPage fell $1.26, or 5.9 percent, to $19.99 in aftermarket trading, after closing down 39 cents at $21.25.


BW Mall - Sponsored Links

Buy a link now!