Yardi Systems Acquires Point2 Technologies

It’s a big day here at Point2.

Point2 Technologies has been acquired by Yardi Systems Inc., one of the most successful and largest software companies in the real estate industry today.

So, what does this mean for Point2? We’re very excited to join the Yardi family. Our resources, team and industry expertise have just reached new heights. This will allow us to further accelerate our growth and product innovation, and move forward with our plans even more aggressively than before.

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.

We at Point2 would like to take this opportunity to say thank you to everyone for your confidence, support, and commitment in the past. We look forward to continuing to build our relationships for many years to come.

Here’s the full press release:

SANTA BARBARA, CA – Sept. 30, 2010 – Yardi Systems has announced its acquisition of Point2 Technologies Inc. Headquartered in Saskatoon, Saskatchewan with offices in Vancouver, British Columbia and San Diego, Calif., Point2 develops, markets, and supports online marketing software solutions for the real estate industry. The company also develops, markets, and supports inventory management and online marketing software for the heavy equipment industry. Customers are located in over 120 countries.

Point2’s entire management and staff will remain with the company.

The acquisition will further strengthen the Point2 brand and position in the listing syndication and website marketplaces.

“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.”

####

About Yardi

Yardi Systems has been committed to the design, development, and support of real estate investment management and property management software for nearly 30 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 Point2 Technologies Inc.

Point2 develops and markets web-based inventory management and online marketing software solutions for the real estate (www.Point2Agent.com) and heavy equipment industries (www.Point2Manager.com) across 120 countries. The company also owns and operates the real estate consumer portal, Point2 Homes (www.Point2Homes.com), and the used heavy equipment marketplace, UsedIron (www.UsedIron.com). Point2 was founded in 1996 and employs a staff of nearly 130 employees at its Saskatoon, Saskatchewan headquarters and at offices in Vancouver, British Columbia and San Diego, CA. More information can be obtained by clicking here.