RealPage, Inc. (NASDAQ:RP), a software and software-enabled services provider to the rental housing industry, announced on Jan. 4 that it has acquired substantially all of the operating assets of Vigilan, Incorporated for approximately $5 million.
Vigilan is a provider of assisted living software-as-a-service, with products that allow assisted living communities to monitor and schedule detailed care, manage labor costs, and provide accurate billing, and includes compliance tools through its comprehensive 50-state compliance module.
“Vigilan expands our senior living software solutions, and is expected to contribute to this segment’s achievement of our long-term target operating model,” said Steve Winn, chairman and CEO of RealPage, in a statement. “Similar to other segments of rental housing, we see the long-term convergence of booking functionality with lead generation capabilities. Vigilan bolsters our comprehensive platform of software-as-a-service solutions for the senior living market and positions RealPage to benefit from this convergence.”
Founded in 2003, the newly-acquired software service provider is based in Oregon and serves approximately 340 senior living communities, contributing to RealPage’s senior living customer base. Vigilan’s annual on-demand revenue run-rate for 2011 is an expected $2.3 million.
Written by Alyssa Gerace