Software and data analytics provider RealPage has announced the closing of its acquisition of the assets related to Lease Rent Options (LRO) from The Rainmaker Group. The $300 million cash purchase price is subject to working capital adjustments and post-acquisition indemnification claims.

RealPage expects that LRO will contribute non-GAAP revenue of approximately $2.6 million and adjusted EBITDA of approximately $0.7 million for the fourth quarter of 2017. Integration is set to be completed in 2018, and RealPage expects the purchase price valuation to represent approximately 12 times adjusted EBITDA on a run-rate basis after integration.

“We are excited to initiate our LRO integration plan,” says Steve Winn, chairman and CEO of RealPage. “Once integrated, YieldStar, LRO, and Axiometrics are expected to form the industry’s most comprehensive suite of solutions for precision data analytics and asset optimization for rental housing assets.”

The LRO acquisition was first announced in February 2017, as reported in Multifamily Executive. The newly acquired firm provides revenue-management services to over 1.5 million apartments.

“As revenue management becomes more broadly accepted, we expect our combined platform to drive accelerated, sustained revenue growth in our asset optimization product family over the long term. We believe we have all of the components necessary to offer solutions that bring efficiency and precision to the apartment real estate sector, which has historically lacked the solutions available in other investment classes,” Winn said in a statement in February.