Altisource Portfolio Solutions (ASPS), a provider of mortgage, financial and technology services for the real estate industry, is expanding with a pair of acquisitions.
The company announced Tuesday that it is set to acquire RentRange and Investability.
RentRange is a provider of rental home data and information to the financial services and real estate industries, delivering a wide assortment of address and geography-level data, analytics, and rent-based valuation solutions for single and multifamily properties.
Investability is an online residential real estate search and acquisition platform that utilizes data and analytics to allow real estate investors to access the estimated cash flow, capitalization rate, net yield and market value on properties for sale in the United States.
Financial terms of the deals were not disclosed.
According to a release from Altisource, the acquisitions “substantially expand” the company’s offerings, reach and data capabilities in the real estate services market.
“Together, the acquired businesses will add to Altisource’s real estate capabilities by providing customers– including users of its Hubzu and Owners.com online real estate sales and auction platforms – with highly accurate pricing information about rental home investments and access to valuable investment property inventory,” Altisource said in a release.
Walter Charnoff, chief executive officer of RentRange and Investability, said that the companies are “excited” to join Altisource.
“Our vision has always been to develop the most comprehensive residential property rental data repository in the country, along with a powerful and unique search and transaction engine for rental homes,” Charnoff said. “Together with Altisource, we will quickly realize this vision in a much broader and more impactful way.”
William Shepro, chief executive officer of Altisource, said the acquisitions “squarely support our real estate and mortgage marketplace strategy and enable us to provide valuable analytics” to the home rental, renovation, sale and origination markets.
“RentRange and Investability, when combined with Altisource’s services, offer investors the data and information they need to make well-informed decisions about the homes they’re buying, renting and managing,” Shepro added. “We are thrilled to add the RentRange and Investability teams to the Altisource family.”
