In a widely expected move, Carrollton, Texas-based RealPage filed papers with the U.S. Securities and Exchange Commission to commence an initial public offering on the NASDAQ Global Market. Beyond a press release temporarily posted to the RealPage website, the company did not publicize the filing of its S-1 form on April 29 and is currently not conducting any interviews on the topic.   Last December, RealPage CEO Steve Winn told the Dallas Business Journal that the company had annual growth in the 20 percent to 30 percent range and would likely pursue a public option at some point. “We’ve made no decision to go public,” Wynn said at the time. “But I believe the company is well positioned to be public. It’s probably inevitable that we will end up doing that. But there are no imminent plans for an IPO.”

According to the S-1 filing, RealPage had $140.9 million in 2009 revenues with a net 2009 income of $28.4 million. In a move that could be intended to highlight the firm’s cloud computing strength, RealPage also listed its on-premise and on-demand revenue streams as separate line items, claiming $128 million of revenues being generated by Software-as-a-Service (SaaS)offerings versus only $3.8 million from on-site installations of its software and services. RealPage has focused intently on the SaaS space over the past several years, and launched a cloud computing division in September 2009 to provide services to clients via two redundant RealPage data centers backed by 10 gigabit dedicated fiber circuits.

Credit Suisse Securities (USA) and Deutsche Bank Securities will serve as joint book-runners for the offering, with William Blair & Company, RBC Capital Markets Corp., JMP Securities, and Pacific Crest Securities acting as co-managers.