RealPage, a publicly traded full-service real estate management technology company with over 12,200 clients worldwide, announced today that it has acquired Stratis IoT, a startup providing IoT services to the real estate industry, with a focus on access tools. and energy management.
"RealPage aims to become a leading provider in the burgeoning rental automation market and thereby create significant opportunities for operators to increase rents, improve sustainability, add operational efficiencies, reduce operating costs and improve the customer experience. customer for approximately 19 million units of the company across the United States, "said Steve Winn, CEO of RealPage. "Smart building technology also provides a springboard for expanded international operations, thanks to Stratis's current international presence."
Stratis is currently installed in approximately 380,000 homes across the US, Japan, the UK and several countries in Europe and Latin America. Both Stratis and RealPage cater to a wide range of real estate, from multi-family units to student housing, vacation homes and commercial real estate.
Traditionally, the real estate market has not always been the first to adopt modern technologies. However, things are rapidly changing, partly due to the promise of the IoT, which is not only a boon for renters looking for modern solutions in their apartments, but also represents the potential for significant cost savings for the industry. . RealPage claims that smart technology can generate a $ 55 increase in revenue per unit, for example, and that's the kind of savings (and higher revenue) that will push even legacy B2B platforms to modernize.
One area where Stratis stands out is its ability to integrate with a wide variety of third-party solutions.
"Holistic building access and utility management and control are integral to building optimization and the resident experience, which have become increasingly intertwined," said Felicite Moorman, CEO of Stratis IoT . "RealPage and Stratis IoT combine two industry-leading best-in-class platforms to create a central control and single-app resident experience for multi-family, student housing and beyond."
The two companies did not disclose the acquisition price. It is worth noting that RealPage is no stranger to acquisitions to bring its technology up to date. A year ago, the company acquired Hipercept, for example, a company that provided data services and data analytics to the institutional real estate market. Later, in December, it also acquired Buildium, a SaaS real estate management solution with over 2 million units under management. In 2019, the company said it plans to spend just over $ 100 million on acquisitions.
