It’s a big day for Saskatoon's Point2 Technologies. The Canadian company, which develops, markets, and supports online marketing software solutions for the real estate industry, has been acquired by Yardi Systems Inc., a successful software company. Point2 has 130 employees, was founded in 1996, and has secondary offices in Vancouver and San Diego. Capital West Partners was Point2's advisor for the deal.
“Point2’s strengths and solid market penetration create a significant growth opportunity for our companies. We look forward to capitalizing on Yardi’s capabilities in combination with Point2’s expertise and traction to take the business to the next level,” said Anant Yardi, president of Yardi Systems.
“Point2 is very excited to become part of Yardi, one of the largest and most successful software companies in real estate today. Our vision and cultures are a perfect match,” said Saul Klein, Yardi senior vice president of Point2 and former chief executive officer of Point2. “The combination of Point2 and Yardi puts us on a fast track of innovation that will serve our customers and business partners well across the industries that we serve.”
Quoth Point2's website:
The people behind Point2 that you’ve come to know and love will remain at the company. Any contacts you’ve made here will remain the same too.
What does this mean for our customers and members? This is an exciting time for our members as well. With Yardi on our side we’ll have the ability to accommodate many of the requests for new product features and expand our horizons at a much faster pace. We anticipate surpassing the expectations of our membership by leaps and bounds.
There is not yet final word on the amount of money involved, but sources say that as a result of a rather unexpected bidding war, Point2 pulled in more than originally anticipated. There will definitely be celebrations in Saskatoon tonight.