RealPage, a provider of software and data analytics to the real estate industry, has acquired Knock CRM, a provider of customer relationship management and front office technology in the multifamily industry.
The acquisition combines Knock’s services with RealPage’s experience in AI, yield management and smart property management services. The two companies aim to create an operating service to maximize net operating income for the multifamily sector’s asset class.
“Acquiring Knock accelerates our strategy to deliver a next-generation front office platform that supports centralized leasing,” comments Dana Jones, CEO of RealPage. “Today’s market conditions are driving property owners and operators to rethink operations to drive efficiency. Together with Knock, RealPage will meet our customers’ needs with a connected platform that enables an AI-driven virtual operating model.”
Kirkland & Ellis LLP served as legal counsel to RealPage. Raymond James & Associates served as financial advisor to Knock and Fenwick & West LLP served as legal counsel to Knock.