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RealPage was formed in 1998 to acquire Rent Roll, Inc., which marketed and sold industry-leading on premise property management systems for the conventional and affordable multifamily rental housing markets. In June 2001, we released OneSite, our first on demand property management system. Since 2002, we have expanded our on demand software solutions to include a number of software-enabled value-added services that provide complementary sales and marketing, asset optimization, risk mitigation, billing and utility management and spend management capabilities. In addition, our growth has been supported by the acquisition of complementary technologies to supplement our internal product development and sales and marketing efforts; expand the scope of our solutions; and the types of rental housing properties served by our solutions and our customer base. We provide our SaaS products and services to more than 8,700 customers to help manage the operations of approximately 8.6 million rental housing units.
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