Yardi Systems, a Santa Barbara-based technology company focused on designing products for real estate and property management, said July 3 that it has acquired a company that compiles and publishes data on the apartment industry.
Pierce-Eislen is an online technology company that provides up-to-the-minute data to the commercial multifamily housing industry. The company researches and reports on all apartment communities larger than 50 units in size in 58 markets throughout the U.S. Current employees of the Scottsdale, Ariz.-based company will remain in their existing offices.
“The Yardi merger is a direct result of an extensive search for the best partner to support Pierce-Eislen’s aggressive growth strategy,” Pierce-Eislen Founder Ronald Brock said in a news release. “This union will help us bring the industry’s most complete and fully bundled information source to a national audience.”
The purchase price has not been disclosed.