Solon's MRI Software Makes Acquisitions

From MRI Software LLC: Rental History Reports (RHR) was founded in Minnesota in 1994 as a provider of multifamily renter background screening technology. In 2004, the company created its Trusted Employees (TE) business unit to provide corporate employers with background on prospective hires, thus becoming Rental History Reports and Trusted Employees (RHR and TE). Throughout its history, RHR and TE has built its holistic platforms with the goal of streamlining and automating screening processes, a strategy that has resonated in the market to the tune of millions of completed online screenings for its clients.

"We're proud to continue leading the charge for flexibility and choice in real estate software solutions," said David Carner, Senior Vice President for Residential Solutions, MRI Software. "The addition of Rental History Reports represents another step forward for MRI's resident and prospect engagement solution, complementing our existing Resident Check screening service with one well suited for small and medium businesses. Additionally, the Trusted Employees offering brings a comprehensive employment screening solution to MRI's commercial, residential and corporate occupier clients."

Rental History Reports' resident screening services for multifamily property owners and managers include credit history, criminal history, eviction history, employment verification and rental references reports. Trusted Employees leverages the company's core competencies to provide criminal records history, credit background check, and employment, reference and education verification – all customized for industry, business type and position. Critically, the platform's flexible APIs allow users to integrate information directly from their applicant tracking system of choice.

"MRI is in a period of impressive growth and we're proud to be part of the momentum," said Steve Gustafson, Chief Executive Officer, Rental History Reports and Trusted Employees. "We're confident that the time-tested solutions we've built at Resident History Reports and Trusted Employees will secure MRI's position as the gold standard in holistic screening solutions for multifamily properties and corporate employers. RHR and TE clients will benefit from a broader range of solutions and increased innovation and resources from a global organization of MRI's size and scale."

RHR and TE will continue to serve its clients without interruption and remains committed to providing and supporting solutions for all organizations, regardless of their property management software. MRI remains committed to providing choice and flexibility for its clients through an open and connected ecosystem. MRI's Partner Connect program includes three screening partners, and the addition of RHR gives MRI clients even more freedom to choose the right screening solution for their needs.

Kirkland & Ellis LLP acted as MRI Software's legal counsel for the transaction. Vista Point Advisors, a boutique technology-focused investment bank, acted as the exclusive financial advisor to Rental History Reports and Trusted Employees.

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