SmartRent Inc., a home and building technology platform, is acquiring SightPlan Inc., a vertical software as a service provider that includes a real estate operating platform. This acquisition advances both SmartRent’s product roadmap and adds to the company’s cloud-based SaaS platform.

The transaction is expected to add approximately $10 million in revenue to SmartRent’s SaaS platform for 2022. On March 22, SmartRent acquired 100 percent of the equity interests of SightPlan for approximately $135 million in an all-cash transaction. SightPlan employees will now work for SmartRent, while SightPlan will continue to operate out of its Orlando, Fla. office.

“We are excited about bringing SightPlan onto the SmartRent platform,” said CEO of SmartRent Lucas Haldeman. “The alignment of our open-API solutions creates a powerful combination for real estate operators.”