Thursday, April 29, 2010
RealPage Files For IPO
Carrollton, Texas-based RealPage, a developer of property management software for the commercial rental market, has filed for an IPO. According to the firm's S-1, the company is looking to raised up to $150M in an IPO on the NASDAQ Global Market. The IPO is being underwritten by Credit Suisse, Deutsche Bank Securities, William Blair & Company, RBC Capital Markets, JMP Securities, and Pacific Crest Securities. RealPage is backed by Advanced Capital Partners and Apax Excelsior VI. RealPage said it had revenues of $140.9M in 2009, and net income of $28.4M. The firm also broke out on-premise versus on-demand revenues, saying that $128M of its revenues were from its software-as-a-service offering versus $3.8M from on-premise installs of its software.