Richardson-based RealPage Inc. has increased its footprint in the United Kingdom and Australia, with a $6.2 million acquisition of London-based PEX Software Ltd.
PEX provides property management, online leasing, and resident software platforms to clients in the UK and Australia that manage private-rental sector and student-rental housing properties.
Real estate software and data provider RealPage already has a UK presence, thanks to its 2016 student property management system partnership with Greystar Europe. The PEX acquisition will further solidify RealPage’s UK and Australian operations, which William Chaney, executive vice president of RealPage’s enterprise solutions, said “is critically important to support our expansion needs in these markets.” The buy also is expected to provide a launching platform for RealPage’s development within the European Union.
Experts believe that, over the next decade, the PRS will be the fastest-growing sector of the housing economy in the UK. Chaney said connecting the PEX and RealPage platforms will provide data to assist the international build-to-rent market.
RealPage will keep PEX’s London and Sydney offices operational, with plans to increase staff in sales, technical support, and implementation specialists. PEX’s development operation staff in Valencia, Spain, is expected to be housed in RealPage’s Barcelona office.
[Feature art: Logos, RealPage Inc and PEX.]
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