RealPage, which provides on demand software solutions for rental property owners and managers, announced terms for its IPO on Wednesday. The Carrollton, TX-based company plans to raise $189 million by offering 13.5 million shares at a price range of $13-$15. At the mid-point of the proposed range, RealPage will command a market value of $872 million. RealPage, which was founded in 1998 and booked $160 million in sales for the 12 months ended June 30, plans to list on the NASDAQ under the symbol RP. Credit Suisse and Deutsche Bank Securities are the lead underwriters on the deal, which is expected to price during the week of August 9.
