RISMEDIA, March 19, 2007-Dominion Enterprises, a leading media and information services company, has announced that it has acquired Resite Information Technology, an Internet marketing and Web-based software business serving the apartment management industry. Terms of the transaction were not disclosed.
Based in Bloomington, Indiana, Resite IT has a client base of 80 property management companies, which are responsible for approximately 2,000 apartment complexes nationwide.
The company provides three main products to apartment communities:
- ResidentHub(TM), for online payment and enhanced resident customer service,
- LeasingPath(TM), for streamlining the leasing process online and
- MarketingWeb sites(TM), for customizing Web sites for apartment communities.
President and Chief Executive Officer of Dominion Enterprises Conrad M.Hall said, "Resite is an important new addition to the services we offer the apartment industry, and we are pleased to welcome them to the Dominion Enterprises family."
The flagship properties offered by Dominion Enterprises' For Rent Media Solutions division include For Rent magazine, comprising 85 publications in 190 markets nationwide and ForRent.com, which has over 50,000 apartment listings. ForRent.com provides unparalleled solutions for apartment managers to market their properties including streaming videos, e-maps, and virtual tours. For Rent Media Solutions' portfolio also includes niche magazines and Web sites including Para Rentar, Senior Outlook, and Corporate Housing.
"The acquisition of Resite IT is clearly an excellent strategic fit as we further expand our services to apartment owners and managers," said Jack Ross, senior vice president of Dominion's apartment properties group.
Resite IT's co-founders Brad Wisler, chief executive officer, Mike Trotzke, chief technical officer, Marc Guyer, Lead Engineer, and Greg Starr, vice president of Business Development and the company's 12 employees will remain with the business under Dominion Enterprises' ownership and continue to be based in Bloomington, Indiana.
CEO Brad Wisler said, "This acquisition gives us the opportunity to be part of a much deeper offering in the apartment property owner and manager space. We foresee many opportunities to integrate Resite with Dominion's current base of business, and we look forward to building upon our industry-leading suite of Web services for the apartment management industry."
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