Proptech company RealPage will acquire WhiteSky Communications, a company that offers internet, video and voice services to multifamily buildings. Financial terms of the deal were not disclosed on Monday.
Alabama-based WhiteSky offers its bulk services to apartments, student living, hotels, adult living, assisted living and hospitals at a low cost. The company was founded in 2005 by Allen Cory White while he was attending college, according to its website.
RealPage CEO Steve Winn said that the acquisition “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,” Winn said. “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.”
WhiteSky served hundreds of properties at the end of 2020, totaling 48,000 units, the company said Monday.
As real estate professionals strategize on how to do business in 2021’s competitive, fast-paced housing market, they’ll discover the need for better tools to market their listings. Learn how brokers and agents are growing listing visibility among rental properties, attracting more clients in the new year.
Presented by: Apartments.com
Late last month, RealPage was acquired by Thoma Bravo in a transaction valued at approximately $10.2 billion. The deal, expected to close during the second quarter, will make RealPage a privately held company.
Last September, RealPage entered the smart building space and paid an undisclosed amount to acquire Stratis IoT, a property management tech firm based in Philadelphia.