RealPage announced its acquisition of CRE Global Enterprises recently, a holding company for Hipercept, for an undisclosed amount, Seeking Alpha reported. RP is making the acquisition in order to get an 'all-in-one' solution for real estate investors in the form of Hipercept, which provided data services and analytic solutions to institutional real estate owners. CRE Global Enterprises currently holds Hipercept.

Hipercept's clients are usually institutional real estate owners which have over $500 billion in assets. It was founded in New York in 2009 to fill in the need for advisory, data and partner management, as well as application management services to various real estate owners in Asia, Canada, Europe, and the US. It is headed by CEO Colin Kovas, CEO for the firm since 2014. He was previously connected with NewOak Capital.

Market research by McKinsey revealed that these types of technologies provide a big boost to developers and asset owners. They are in need of good, relevant property insight as well as properly informed actions. These analysts have to sift through numerous data points and records, lessening the time for grabbing opportunities as they are presented to them. Hipercept's services can help with that.

RealPage's acquisition will complement their earlier developed capabilities, according to Pulse 2.0. RealPage chairman and CEO Steve Winn said that it will also help customers in the long run, as they would no longer need to go to other apps in case their business needs the processes RealPage used to lack. Now, RealPage can offer them a one-stop solution for their business.

The acquisition is expected to close within 30 days. RealPage is looking to begin a combined Asset & Investment Management platform, according to reports, which will integrate their already existing projects-Portfolio Asset Management (PAM) and Portfolio Investment Management (PIM)-together with FUEL and Foundation.

Another benefit of the acquisition will be a renewed RealPage. The app will be able to offer it existing commercial and multifamily clients with a fully integrated valuation experience supplemented with FUEL. The combination will also create the industry's only fully integrated platform, according to reports, which will aggregate and manage data across different investments.

RealPage has so far declined to divulge other details, including the acquisition price and terms of the deal. It is expected that the transaction was likely agreed upon with a financially non-material amount as the payment.