Earlier this week, RealPage announced it will be acquiring NWP Services Corporation, which is a provider of cloud-based resident billing, electronic payments, back office accounting, and IT infrastructure solutions. RealPage plans to intergrate with NWP functionalities for the remainder of 2016.
“We have admired NWP for many years and I am excited to combine forces to offer our clients more functionality and enhanced services. We expect the acquisition will allow us to expand our footprint, and introduce new resident-oriented solutions with greater speed and scale," says Steven Winn, Chairman and CEO of RealPage.
“The acquisition of NWP is a great example of the type of investments we prioritize under our capital allocation strategy. We expect to realize significant synergies once we integrate the best of both platforms, removing redundant technology as well as back-office costs. An important secondary benefit of the acquisition is the addition of approximately 200,000 new rental housing units that provide RealPage with an opportunity to cross-sell our current solutions. With the acquisition of NWP, total units served by one or more RealPage solutions are expected to be 10.8 million," says Bryan hill, CFO and Treasuer of RealPage.