RealPage Agrees to Acquire HomeWiseDocs, The Premier Provider of Disclosure Management Services to the Community Association Industry

Rhea-AI Summary

RealPage, Inc. has announced a definitive agreement to acquire HomeWiseDocs, a prominent provider of data and document services for the community association industry. This acquisition aims to enhance RealPage's product offerings and market position, particularly in the growing $4 billion community association sector. HomeWiseDocs serves over nine million homes in the U.S. and simplifies information disclosure tasks for property managers. The transaction is subject to customary conditions and is expected to close in Q4 2021.

Positive

• Acquisition of HomeWiseDocs strengthens RealPage's position in the $4 billion community association market.
• Expected synergy from combined offerings will enhance product portfolio and market reach.
• Retention of HomeWiseDocs’ employees and operations in Nevada ensures continuity.

Negative

• None.

RICHARDSON, Texas--(BUSINESS WIRE)-- RealPage, Inc., a leading global provider of software and data analytics to the real estate industry, today announced that it has entered into a definitive agreement to acquire HomeWiseDocs, a leading provider of data and document delivery services for the community association industry. RealPage plans to enhance its product portfolio and market reach with HomeWiseDocs’ industry-leading solutions, significantly strengthening RealPage’s position in the community association sector and positioning the combined company as the premier service provider in the industry. The transaction is subject to customary closing conditions and is expected to close during the fourth quarter of 2021.

Serving over nine million homes throughout the United States, HomeWiseDocs simplifies the complex and time-consuming tasks of information disclosure associated with the sale or refinancing of properties in managed communities, including homeowner associations and condominiums. Its industry-leading solutions provide property managers with comprehensive controls over the timely processing, delivery and record retention required under state regulations. HomeWiseDocs partners and integrates with the industry’s leading software providers, helping its joint customers grow their businesses and increase operating efficiencies. HomeWiseDocs is an industry leader in providing these services to the $4 billion community association marketplace, a sector that continues to grow faster than the overall housing market.

“We are very excited to join forces with the HomeWiseDocs team,” said Dana Jones, CEO of RealPage. “HomeWiseDocs has meticulously built a premier solution for the community association industry and has established itself as the provider of choice in data and document delivery services. Over the past decade, RealPage has built a significant presence in the HOA space, both through our ClickPay payments solution and more recently through our Buildium service platform. Together with HomeWiseDocs and its partners, we believe we can more quickly scale to deliver even more value to the industry across a wide range of products that will help property managers optimize their operations and be more profitable.”

Manny Chaves, President of HomeWiseDocs, added, “We are thrilled to begin a new chapter as part of the RealPage family. Our industry has undergone significant transformation in recent years, and we are eager to help our customers advance to a new level of sophistication and efficiency. Together with RealPage, we will invest and provide even more value to our customers, and we will continue to set the standard for digital transformation in the years ahead.”

RealPage plans to retain HomeWiseDocs’ employees and operations in Reno, Nevada.

About RealPage

RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency in asset performance, leverage data insights and monetize space to create incremental yields. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves over 19 million units worldwide from offices in North America, Europe and Asia. For more information, visit RealPage.com.

About HomeWiseDocs

HomeWiseDocs has over 1,300 community association customers with over nine million housing units. The HomeWiseDocs platform is intuitive enough to handle simple requests quickly, while its comprehensive design will easily process the most complex transactions. HomeWiseDocs invests in the latest digital tools, platforms, and programming, so property managers can ensure their clients and staff are being served by the most innovative and secure technology available. Learn more at HomeWiseDocs.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211207005386/en/

RealPage Communications

Alecha Stackle

Media@RealPage.com

Source: RealPage, Inc.

FAQ

What is the strategic importance of RealPage's acquisition of HomeWiseDocs?

The acquisition enhances RealPage's product offerings and strengthens its market position in the growing community association sector.

How many homes does HomeWiseDocs serve?

HomeWiseDocs serves over nine million homes across the United States.

When is the expected closing date for the RealPage and HomeWiseDocs acquisition?

The transaction is expected to close during the fourth quarter of 2021.

What services does HomeWiseDocs provide?

HomeWiseDocs provides data and document delivery services, simplifying information disclosure for property managers in community associations.

How will the acquisition impact RealPage's operations?

The acquisition is expected to provide RealPage with enhanced solutions and operational efficiencies in the community association industry.