RealPage® Acquires WhiteSky Communications
04 Janvier 2021 - 3:00PM
Business Wire
Acquisition Completes CommunityConnect
Trifecta of Smart Building Offerings
RealPage, Inc. (NASDAQ: RP), a leading global provider of
software and data analytics to the real estate industry, today
announced the acquisition of WhiteSky Communications, LLC. WhiteSky
provides managed communications services, enabling multifamily,
student and other properties to provide managed bulk Internet,
video, voice-over-internet protocol (VOIP) phone, and Wi-Fi
services. With WhiteSky, residents of these properties regularly
pay significantly less for high-speed, secure, community-wide
Internet that can be provisioned in minutes instead of days. In
addition, the opportunities for owners and operators to reap larger
revenue shares than typically offered by phone and cable companies
make managed bulk Internet the preferred choice for properties
seeking to upgrade their resident service.
WhiteSky is widely regarded for its ability to deliver
highly-reliable managed bulk Internet service quickly and at a low
cost with speeds up to 1GB. The company scales through its
nationwide network and teams of support and installation
technicians. The vast RealPage network, data center operations, and
resident experience centers will complement the Whitesky offering,
enabling quicker deployments, operational efficiencies, and an
enhanced customer experience. At the end of 2020, WhiteSky served
hundreds of properties totaling 48,000 units and 150,000 beds.
Company annual revenue growth has been approximately 50% in recent
years.
Steve Winn, CEO and Chairman of the Board at RealPage stated,
“The acquisition of WhiteSky, a recognized and highly-respected
managed service provider, positions RealPage to enter the surging
market for multifamily property bulk Wi-Fi services as a key
player. We expect to drive post-acquisition revenue synergies with
the inclusion of WhiteSky services into CommunityConnect™, our
one-stop-shop for smart buildings, smart access, and purpose-built
managed smart Wi-Fi, all controlled from a single resident App. We
will continue to support our network of system integrators, local
exchange carriers, and cable and installation partners, and offer
the widest possible options for our customers, manufacturers of
smart access, IoT devices, and Wi-Fi communication
infrastructure.”
Cory White, Founder of WhiteSky Communications, said, “It’s so
exciting to join the RealPage family for so many reasons. We share
a passion for innovation that will drive further advances in the
burgeoning multi-dwelling unit (MDU) market. Like RealPage, we
consistently strive to go above and beyond to deliver optimal
experiences for our clients and their residents. We look forward to
our complementary products and managed services, further enabling
CommunityConnect to provide ever greater value to our clients.”
When included in CommunityConnect, Smart Wi-Fi creates the
opportunity for increased and improved support, speed to
connection, reliability, and lower costs compared to traditional
service providers. Additionally, CommunityConnect Smart Wi-Fi is
uniquely designed for density to enable true Gigabit-speed uploads
and downloads. CommunityConnect is multifamily’s premier
fully-integrated smart building platform for connected living. Each
module is best in class and purpose built by industry leaders for
community-wide efficiencies and enablement. CommunityConnect
enables its mobile application for residents and a single dashboard
for operators, ensuring simple and efficient access to options and
features.
About RealPage
RealPage provides a technology platform that enables real estate
owners and managers to change how people experience and use rental
space. Clients use the platform to gain transparency into asset
performance, leverage data insights and monetize space to create
incremental yields. Founded in 1998 and headquartered in
Richardson, Texas, RealPage currently serves over 19 million units
worldwide from offices in North America, Europe, and Asia. For more
information about RealPage, please visit
https://www.RealPage.com.
About WhiteSky Communications
WhiteSky Communications is an up-and-coming communications
company that was established in 2005 as an Alabama-based ISP/MSO.
Originally focusing on perfecting Internet in the multi-dwelling
unit space, WhiteSky now offers voice-over-internet protocol
(VOIP), video, and Internet services for MDU housing developments
and businesses across the nation. WhiteSky provides all-inclusive,
state of the art systems that cater to each client's specific
needs. For more information about WhiteSky, please visit
https://www.whitesky.us.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains “forward-looking” statements
relating to the ability of the RealPage network, data center
operations and resident experience centers to complement the
WhiteSky offering enabling quicker deployments, operational
efficiencies and an enhanced customer experience, expected
post-acquisition revenue synergies with the inclusion of WhiteSky
services into CommunityConnect™, the ability to drive further
advances in the burgeoning multi-dwelling unit (MDU) market, and
the ability of WhiteSky’s and RealPage’s complementary products and
managed services to further enable CommunityConnect™ to provide
ever greater value to our clients. These forward-looking statements
are based on management's beliefs and assumptions and on
information currently available to management. Forward-looking
statements include all statements that are not historical facts and
may be identified by terms such as “expects,” “believes,” “plans,”
or similar expressions and the negatives of those terms. These
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Additional factors that could cause
or contribute to such differences include, but are not limited to,
the following: (a) the possibility that general economic
conditions, including leasing velocity or uncertainty, could cause
information technology spending, particularly in the rental housing
industry, to be reduced or purchasing decisions to be delayed; (b)
an increase in insurance claims; (c) an increase in client
cancellations; (d) the inability to increase sales to existing
clients and to attract new clients; (e) RealPage’s failure to
integrate recent or future acquired businesses successfully or to
achieve expected synergies including the acquisition of WhiteSky;
(f) the timing and success of new product introductions by RealPage
or its competitors; (g) changes in RealPage’s pricing policies or
those of its competitors; (h) legal or regulatory proceedings; (i)
the inability to achieve revenue growth or to enable margin
expansion; (j) changes in RealPage’s estimates with respect to its
long-term corporate tax rate or any other impact from the Tax Cuts
and Jobs Act; and (k) such other risks and uncertainties described
more fully in documents filed with or furnished to the Securities
and Exchange Commission (“SEC”) by RealPage, including its Annual
Report on Form 10-K previously filed with the SEC on March 2, 2020
and Form 10-Q filed on November 6, 2020. All information provided
in this release is as of the date hereof and RealPage undertakes no
duty to update this information except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210104005190/en/
Steve Calk RealPage Investor Relations IR@realpage.com
RealPage (NASDAQ:RP)
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