MRI Software Announces Acquisition of VaultWare

MRI Continues to Expand Multifamily Offering Portfolio with Premier Online Leasing Provider

December 21, 2011 – Cleveland, OH – MRI Software LLC, a leading developer of innovative real estate management and investment software solutions for the global real estate industry, announced today that it has acquired Realty DataTrust Corporation, the holding company for VaultWare. Through this acquisition, MRI expands its portfolio of market-leading offerings in property management and accounting by adding a best-of-breed solution in online leasing.

VaultWare is the leading solution for consumer-focused apartment marketing and leasing for the multifamily market. The software helps property managers reach and communicate with apartment hunters online, pre-qualify prospects, and convert applicants into tenants. Additionally, applicants can check availability of apartment units and reserve specific units online, which streamlines the apartment search and leasing process. VaultWare’s versatile mobile solutions not only support mobile device compatible websites, but also enable property leasing staff to access inventory, property photos, videos, and site plans from an Apple iPad while giving tours of a property. In addition, VaultWare offers vacancy and rental rate data to apartment owners, marketing executives, and apartment brokers for business decisions.

"I am thrilled to welcome VaultWare and its valued customers to the MRI Software family," said David Post, Chief Executive Officer of MRI Software. "This acquisition will extend and strengthen our multifamily product line and will allow MRI to provide the strongest tenant lifecycle management solution on the market."

The new, combined entity will provide both MRI and VaultWare customers with many advantages. The acquisition will provide MRI’s customers with a complete, fully automated lease management solution that will be tightly integrated into MRI’s property management and accounting systems. VaultWare and its clients will benefit from MRI’s world-class client support and professional services capabilities, award-winning SaaS (Software-as-a-Service) environment, and the additional product investments possible with a larger organization. As a part of a leading software provider, VaultWare’s clients will now be able to take advantage of an expanded set of software products and related services.

Mike Mueller, Chief Executive Officer of VaultWare, commented, "The marriage of VaultWare to MRI Software completes a big part of the vision I set out for our industry 17 years ago. The rental prospect now has an end-to-end solution, combining our industry-leading reservations system and marketing tools with the superior back-end resident functionality of the MRI property management and accounting package."

About MRI Software
MRI offers business management software solutions to the global property management and investment industries as well as to corporate real estate managers. As a leading provider of real estate enterprise software applications and hosted solutions, MRI serves the global multifamily and commercial property industries, helping them improve their bottom line and maximize their returns on their diverse business portfolios. MRI leverages its 40 years in business to develop long-term successful relationships with its clients. For more information, please visit www.mrisoftware.com.

About VaultWare™
VaultWare provides consumer-centric apartment marketing and leasing solutions focused on delivering an ideal online shopping experience that results in streamlined operations, highly qualified leads and more leases. Since 2002, VaultWare has been inventing and pioneering solutions that facilitate online renter behavior, leasing activities and convenience for both renters and leasing professionals. These solutions include the multifamily industry’s preferred apartment availability and reservation system, industry-focused desktop and mobile websites, the Leasing Tablet™ touchscreen tablet leasing app and Market Comps, the only automated market survey solution with weekly pricing updates. Over 190 companies, from small property management companies to some of the largest real estate investment trusts, use VaultWare to help them effectively market their properties and efficiently lease their apartments. To learn more about VaultWare, visit the company’s website at www.VaultWare.com.