RICHARDSON, TX—RealPage Inc. is expanding its Resident Utility Management platform with the acquisition of American Utility Management, which provides utility and energy management solutions to the multifamily sector, for approximately $70 million. The RUM platform currently provides billing, invoice processing and bill payment services to over 2.5 million rental units.

“We believe this acquisition will provide more scale to our resident billing operations, lowering our costs to deliver the platform so we can focus on improving innovation and product quality for our clients,” says Steve Winn, RealPage's chairman and CEO. “In addition, AUM has developed an energy management platform that enables operators to benchmark energy consumption and cost against their peers. By combining data captured by RealPage with the data available from AUM, we expect to create the largest and most accurate database of utility consumption and cost data in the industry.”

At AUM, president and CEO Michael Miller says “we will expand the scope of solutions that we can offer to our clients including vastly expanded meter installation and maintenance capabilities” as part of RealPage. He adds that RealPage will continue to support the billing engine and customized billing methods used by our clients. Additionally, “AUM personnel have been hired by RealPage so that there will be no disruption in service, and RealPage intends to expand processing volume through our Chicago service center.”