News Releases

Baker Botts Assists RealPage, Inc. in $300 Million Acquisition

News Release
Deal Description: Dallas-based RealPage, Inc. (NASDAQ:RP) today announced its agreement to acquire Lease Rent Options (LRO) and related assets from The Rainmaker Group Ventures, LLC for $300 million in cash. LRO is a revenue management solution that empowers optimized pricing for over 1.5 million apartments. LRO will expand RealPage’s suite of solutions for precision data analytics and asset optimization for the rental housing industry.

The transaction will be financed through an expanded debt arrangement with RealPage’s current bank syndicate. It remains subject to certain customary closing conditions, including receipt of audited “carve-out” financial statements and HSR clearance, and is expected to close during the second quarter of 2017. The $300 million cash purchase price is subject to working capital adjustments and certain post-closing indemnification claims.

Morgan Stanley served as RealPage’s financial advisor and Wells Fargo Securities advised The Rainmaker Group Ventures.

Baker Botts Lawyers/Office Involved:  (all in Dallas unless otherwise noted)
Don McDermett, Courtney York, Grant Everett, Michelle Matthews, Ian Lurie, Kathryn Betts and Sarah Jones (Corporate); Luke Pedersen and Andrew Wilson (IP-D.C.); Eric Winwood and Marian Fielding (Benefits); Steve Marcus, Matt Larsen and Aaron Pinegar (Tax); Jeremy Gott (Real Estate); Luke Weedon and Josh Espinosa (Finance); Paul Cuomo, Nathan Chubb and Michael Bodosky (Antitrust-D.C.).


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About Baker Botts LLP

Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients’ industries, we are recognized as a leading firm in the energy and technology sectors. Throughout our 177-year history, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit

BakerBotts.com.

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