Employees will join Yardi to provide utility billing and energy management services for more than 700,000 apartments
SANTA BARBARA, CALIF., May 17, 2012– Yardi announced today that it has acquired ista North America’s (NA’s) Multifamily Services Group (MSG), a leading supplier of energy and water metering, billing and management services.
With the acquisition of ista MSG, Yardi will become one of the largest providers of energy management services in the U.S., serving more than 700,000 apartment units. The new Yardi employees from ista MSG will remain in their existing offices in Alpharetta, Ga., Jacksonville, Fla., and San Diego to continue serving their clients.
“Yardi is excited about adding nearly 200 employees from ista MSG’s three offices. They will work with 170 members of Yardi’s YES Energy Management team in Colorado Springs, Colo., to support the industry’s growing demand for energy management services,” said Gordon Morrell, executive vice president and chief operating officer for Yardi. “With these resources and Yardi’s technology roadmap, we are gearing up for significant growth.”
Ruediger Neubauer, CEO of ista NA, said, “We remain fully committed to continuing our Business Process Outsourcing (BPO) activities for energy retailers in the U.S. Our BPO division developed with high growth rates in the last years. The agreement with Yardi will offer us new opportunities to focus on the rapid development of the future BPO business.”
Yardi has been committed to the design, development and support of real estate investment management and property management software for 30 years. With the Yardi Multifamily Suite™ and the Yardi Voyager™ and Yardi Orion™ for SharePoint® platforms, Yardi provides a full real estate management system that includes operations, accounting, and ancillary processes and services with portfolio-wide business intelligence. Yardi’s residential products and services are designed for various market niches, including market rate multifamily and single-family, affordable housing, public housing, senior housing, and military housing. Yardi also offers Yardi Energy Solutions™, a comprehensive service integrated with Yardi Voyager to automate utility billing and energy management. Yardi serves clients around the world from offices in Asia, Australia, Europe, the Middle East and North America. More information about Yardi products and services is available at www.yardi.com.
Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255