RealPage, Inc. (NASDAQ: RP) said it has acquired Kigo, a software-as-a-service vacation rental booking and channel management system headquartered in Barcelona, Spain.
In January, RealPage acquired InstaManager, a similar vacation rental booking system headquartered in the US With the acquisition of Kigo, RealPage further extends its vacation rental booking system internationally.
Both solutions offer marketing websites, online pricing and availability, online booking, automated reservations and payment processing. RealPage will continue to market and support both systems with long-term plans to integrate the leading functions of both platforms into a single vacation rental booking system that is more powerful than the sum of its parts. RealPage intends to expand the capabilities of both booking systems to include screening, revenue management, contact centre, insurance sales and more robust accounting services.
Kigo currently has over 80 employees, including more than 50 in sales and marketing. It operates an efficient, high-velocity sales process that tightly integrates lead generation, lead qualification and lead capture by country. While all Kigo employees were offered jobs, RealPage intends to further expand its sales and marketing efforts in the vacation space.
RealPage paid closing cash consideration of approximately USD32.0m and a deferred cash payment of up to USD5.5m, to be payable over two and a half years after the acquisition date.
RealPage, Inc. is a provider of comprehensive property management software solutions for the multifamily, commercial, single-family and vacation rental housing industries. Its website is at www.realpage.com.