SANTA BARBARA, CALIF., Feb. 16, 2010 - Yardi Systems announced today that it has purchased RentGrow Inc., a leading provider of online resident screening services for multifamily property management firms.

Yardi acquired the Waltham, Mass.-based company so it could offer resident screening as part of its Yardi Multifamily Suite™. In addition to the newly added resident screening offering, the Yardi Multifamily Suite also includes portals, payment processing, utility billing, procure to pay, call center and many other products and services. Yardi developed the Yardi Multifamily Suite in response to increased interest by its clients to consolidate technology vendors by having ancillary business solutions built in as part of the Yardi Voyager™ software platform.

"Yardi acquired RentGrow to meet a growing demand among multifamily housing providers to incorporate credit checks, rental payment history searches, background checks, and other applicant screening functions into their core property management system," said Anant Yardi, president of Yardi Systems. "Adding RentGrow's technology to Yardi's integrated multifamily products will help our clients operate more efficiently, maximize net operating income, and manage risk."

RentGrow's client base represents approximately 700,000 units across the U.S. "We are very excited to become part of the Yardi organization," said Mike Lapsley, president of RentGrow. "Both Yardi and RentGrow have been serving the multifamily industry for decades. This alliance brings tremendous benefits to our company, our customers, and the industry."

About Yardi
Yardi Systems has been committed to the design, development, and support of real estate investment management and property management software for more than 28 years. With its Yardi Multifamily Suite™, Yardi Commercial Suite™, and Yardi Investment Suite™, the Yardi Voyager™ system is the most comprehensive single real estate management platform on the market today. Yardi serves clients around the world from offices in Asia, Australia, Europe and North America. More information about Yardi products and services is available at www.yardi.com.

About RentGrow, Inc.
RentGrow (www.rentgrow.com) has been a leading provider of resident screening solutions for two decades. RentGrow provides apartment owners and managers with powerful online resident screening tools and expertise to help them optimize revenue, manage risk, and maintain compliant, safe, and profitable communities.