Congressional critics blame the Richardson real estate technology company's widely-used software for apartment rental price spikes around the country.
After the acquisition was announced in early 2017, the DOJ requested additional information from the companies involved. Federal regulators scrutinize mergers above a certain size — right now, it is transactions valued at $101 million — and typically allow them to proceed after only a preliminary review.
Merger review guidelines used by both the DOJ and FTC say the agencies “normally evaluate mergers based on their impact on customers,” which include both direct customers and final consumers. But the paralegal said the investigation did not involve talking to tenant advocates or renters. ProPublica found that in the Seattle ZIP code it examined, some of the 10 largest property managers used RealPage’s original pricing software and others were clients of the competitor it acquired.
The investigation fell at a time when the DOJ’s Antitrust Division was preparing to sue to block a proposed merger between AT&T and Time Warner, which promised to take up a lot of the division’s resources.
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