MRI Software buys Texas company CheckpointID

Fast-growing MRI Software, a Solon-based provider of real estate software and services, has made another acquisition.

The company announced on Tuesday, Oct. 13, that it has bought CheckpointID LLC, a Carrollton, Texas-based provider of ID verification and fraud prevention technology solutions to the multifamily industry. Terms of the purchase were not disclosed.

CheckpointID has 27 employees, according to an email from an MRI Software spokeswoman. MRI Software’s employee count stands at about 2,000.

MRI Software said in a news release that CheckpointID’s technology “validates government-issued domestic and international IDs in real time to protect against rental fraud and increase safety in both guided and self-guided apartment tours.” It also allows leasing agents “to quickly perform checks in person or online, and provides an efficient and secure alternative to the traditional paper-based process,” the release stated.

Patrick Ghilani, CEO of MRI Software, said in a statement, “The impacts of COVID-19 have only accelerated the need for digitalization, and residential property managers are under increasing pressure to deliver a modern, online customer experience.”

MRI Software said in the release that CheckpointID “will continue to serve and support its clients without interruption and will continue to offer its ID verification and fraud prevention software solutions to users of all property management systems in the market.”

The CheckpointID deal is the seventh acquisition MRI Software has made in 2020. (Go here for MRI Software’s announcements of previous deals this year.)

MRI Software in January received what it described as “substantial” strategic investments to help fuel continued global growth.

The company did not disclose the size of the investments.

MRI Software said one investment came from funds managed by Harvest Partners LP, a private equity firm based in New York, which joined existing investors GI Partners of San Francisco and TA Associates of Boston as institutional shareholders in the company. Meanwhile, MRI said TA Associates made “a significant new investment” in the business, terms of which also were not disclosed.

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