Yardi acquires Propertyshark in a move into property data

Yardi acquires Propertyshark in the search "to integrate deep property data into the Yardi suite of real estate investment management and property management software". (See press release & here.)

Yardi Systems

Yardi was founded in 1984 by Anant Yardi and is today one of the leading suppliers in the US for Asset and Property management software. Their systems are used in over 20 000 business globally.  

 

PropertyShark

PropertyShark was founded in 2002 by Matthew Haines "strives to level the playing field by providing real estate professionals, investors and savvy homebuyers with the information transparency essential to evaluate all types of real estate and make informed decisions". Has today 50 fulltime employees.

The offering consists of:
   * Property Reports & Building Photos
   * Pre-Foreclosure and Foreclosure Listings 
   * Sales Comparables 
   * Maps
   * For Sale Listings 
   * For Lease Listings
   * PropertyShark University

A review of their services from The Wall Street Journal from 2007, Forbes in 2006 and an interview in National Real Estate Investor from 2008.

Second acquisition in a month

The acquisition of PropertyShark is the second purchase this year for Yardi. In mid-February they purchased RentGrow "a leading provider of online resident screening services for multifamily property management firms" (press release).

Additional reading

More to be found at:

   * Inman
   * PropertyGrunt  

My thoughts

This deal will be very interesting to follow. I strongly believe in integrating information with analyse tools. (Full disclosure, I'm the product manager for Datscha which is doing just that).

A further interesting part is that Yardi with the acquisition of PropertyShark moves into the territory of Costar and Loopnet, regarding listings of property for sale and lease. (read more at TheRealDeal).