SANTA BARBARA, CALIF., July 2, 2012– Yardi Systems, Inc. today announced a comprehensive settlement to the litigation that has been pending between Yardi and RealPage, Inc. since January 2011. As part of the settlement, RealPage will immediately stop offering to host Yardi software for new customers. RealPage will also immediately discontinue offering implementation services and all application support and training services for Yardi software. RealPage may continue to host Yardi software in the RealPage Cloud for existing RealPage Cloud customers only, for up to five years. In addition, Yardi and RealPage have granted to one another perpetual licenses to their standard interfaces, providing interoperability and choice to common clients.
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™, Yardi Commercial Suite™, Yardi Investment Suite™, and Yardi Orion™ for SharePoint®, Yardi Voyager™ is a full business real estate management platform that includes operations, accounting, and ancillary processes and services with portfolio-wide business intelligence. Yardi serves clients around the world from offices in North America, Asia, Australia, Europe and the Middle East. More information about Yardi products and services is available at www.yardi.com.
Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255