RealPage Acquires Real Estate Software Startup STRATIS IoT
The tech platform connects smart apartment systems and devices into a single resident app.
Real estate data analytics and software provider RealPage has announced the acquisition of technology platform STRATIS IoT, which connects smart apartment systems and devices into a single resident app.
The Philadelphia-based company is one of the largest integrators of smart devices and systems for multifamily and student apartment buildings, with usage in approximately 380,000 units across the US, Japan, the UK, EU, and Latin America.
“STRATIS IoT positions RealPage to enter a burgeoning market for smart access control, smart home devices and revolutionary new bulk Wi-Fi networks,” RealPage CEO Steve Winn said in a statement. “What STRATIS IoT does is connect all of these smart systems into a single, seamless resident app with one user credential for each resident, which enables owners to recognize more revenue through monetization of amenities and enables residents to enjoy easier living and working from the next generation of connected apartment buildings.”
RealPage, which was founded in 1998 and is based in Dallas suburb Richardson, TX, provides a technology platform aimed at real estate owners and managers. It purports to provide clients increased transparency in asset performance and to allow them to leverage data insights and better monetize space. The company currently serves 19 million units worldwide and has offices in North America, Europe and Asia.
STRATIS IoT will continue operating in Philadelphia as a wholly-owned subsidiary and will retain its existing employees.
The companies did not make details on the value of the deal available.