Yardi Acquires CommissionTrac
Yardi has acquired CommissionTrac, a software company that provides revenue management software for commercial real estate companies to manage workflows, from tracking deal pipelines to invoicing clients to paying out commissions. Financial terms of the deal were not disclosed.
CommissionTrac platform will be integrated into Yardi's CommercialEdge suite, a recent addition to Yardi's suite of products. CommercialEdge provides marketing and deal management solutions.
"At CommissionTrac, we've spent years developing a product to streamline the operations of a brokerage, while also providing greater visibility to brokers about their commissions," said Turner Levison, co-founder and CEO of CommissionTrac, in a statement. "By joining Yardi's CommercialEdge division, we are excited to accelerate our impact in the commercial real estate space."
"We're very pleased to welcome the CommissionTrac team to the Yardi family," said Arjun Rao, senior director of global solutions at Yardi, in a statement. "The team has built a strong product that perfectly complements our CommercialEdge suite, especially our marketing and deal management products. We are excited to work together to continue to add value to the commercial real estate space."