CARROLLTON, Texas (June 23, 2010)—RealPage, Inc.(www.realpage.com), a leading provider of on-demand software and services to the rental housing industry, today announced an agreement to acquire eREI, maker of the on-demand Lead2Lease customer relationship management ("CRM") system (www.lead2lease.com). In addition, eREI markets PropertyLinkOnline, an on-demand system that syndicates and synchronizes rich property content to Internet marketing sites, and provides a Market Analysis tool, which contains a database of asking rents for tens of thousands of apartment homes with notification capabilities when a nearby property changes rents or offers a concession. "This is a great fit for RealPage," said Jon Tull, president of eREI, who will remain in his position. "Our lead management technology dovetails into RealPage's paperless leasing system, saving on-site staff time and streamlining the leasing experience for resident prospects."
According to Dirk Wakeham, president of RealPage, "RealPage currently markets its family of sales and marketing solutions under the trade name "CrossFire." Most eREI products and services will be added under the CrossFire product family. Market Survey will be marketed separately by MPF Research, a division of RealPage. eREI is an important acquisition for RealPage, as it extends our offering of sales and marketing solutions to the multifamily industry. Our goal is to provide our customers with a seamless and powerful way to make the most of every lead, no matter where it comes from."
Jon Tull will continue to manage development, support and product marketing for eREI solutions from his California offices. All current employees are expected to remain with the company. Upon closing of the transaction, RealPage will add eREI's offices in Camarillo to its existing offices in San Diego, Irvine, and San Francisco, California.
This is an abbreviated version of the press release. The full press release is located at http://www.realpage.com/company/news/view-release-160.aspx.
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