With Acquisition of Domin-8, RealPage Will Cater to Small, Medium-Sized and Affordable Housing Managers
- Feb 16, 2010
Carrollton, Texas–RealPage has acquired Domin-8 Enterprise Software Solutions, enabling RealPage to reach more customers and broaden its offering to small and medium-sized property management firms and affordable housing owners and managers.
The move will enable Domin-8 to expand the breadth of products it makes available to property management customers, many of whom manage diversified portfolios that include commercial properties, single-family homes, condominiums, town homes, duplexes, HOAs, and centrally managed apartment buildings.
“Domin-8 has several very popular software packages, including TenantPro, Spectra, i-CAM, and Management Plus,” says Steve Winn, CEO of RealPage. “We share a common vision with Domin-8 of providing customers with a full suite of online services. Virtually all of RealPage on-demand services, including resident screening, renter’s insurance, eProcurement, group purchasing, contact center, and resident utility billing will be integrated into core Domin-8 software platforms over the next six to 12 months. This dramatically accelerates what Domin-8 had planned to do for its customers.”
The current management and employees will continue to manage Domin-8 products, with access to RealPage resources to support their continued growth. Specifically, Tom Thistleton, the CEO of Domin-8, will become SVP and general manager of SMB Solutions, responsible for both Propertyware and Tenant Pro, reporting to Sina Shekou, president SMB Solutions.
RealPage will integrate its family of value-added services with Tenant Pro for those clients who prefer on-premise software, and provide a seamless migration path for Tenant Pro clients to migrate to the on-demand platform offered by Propertyware, if they prefer. RealPage also plans to move quickly to make the Domin-8 data center SAS 70 and PCI compliant, and will leverage the RealPage cloud computing Infrastructure as a Service (IaaS) in Dallas.
This merger completes a reorganization of Domin-8, which filed for Chapter 11 reorganization in September 2009. Domin-8’s operating performance has had solid growth over the past few years. However, the company’s founder and brokerage advisers ran up so much debt that the company could not survive with its capital structure.
“We have emerged from Chapter 11 with an excellent partner who can provide us the financial resources to ensure continued smooth operations and the growth capital to move the company forward,” says Thistleton. “This merger will free the business from the debt anchor of the past and allow the Domin-8 team to devote undivided attention to serving