RealPage Files for $150 Million IPO
RealPage Inc., a Carrolton, Texas-based provider of online property management systems for the multi-family housing market, has filed for a $150 million IPO. It plans to trade on the Nasdaq, with Credit Suisse and Deutsche Bank Securities serving as co-lead underwriters.
The company reports $28 million in net income for 2009, compared to a $3.2 million net loss in 2008. Revenue rose from $112 million in 2008 to $140 million in 2009.
RealPage has raised over $40 million in VC funding since 2003, from Apax Partners (26.4% pre-IPO stake), Advance Capital Partners (6.9%), Camden Partners (4.7%) and Leeds Equity Partners. www.realpage.com
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