NEW YORK (S&P Global Ratings) Dec. 7, 2021--S&P Global Ratings said today RealPage Inc.'s (B-/Stable/--) ratings are unaffected by the proposed acquisition of HomeWiseDocs (HWD), a software-as-a-service provider for property management companies in the community association industry. Proceeds from the $260 million incremental first-lien term loan will be used to partially fund the acquisition of HomeWiseDocs. We view the acquisition favorably since it increases RealPage's exposure to the expanding community association market and provides cross-selling opportunities with its ClickPay and Buildium solutions. We expect HWD's profit margin to expand following closing and operating as a combined business. Shortly following the acquisition of RealPage by Thoma Bravo in April 2021, the company underwent significant management changes, including new CEO Dana Jones
