Yardi, RealPage Settle Patent Litigation

Santa Barbara-based Yardi, the developer of real estate and property management software, looks to have scored a win in a patent lawsuit against RealPage, a developer of cloud-based software for the rental housing industry. RealPage said yesterday that it has entered into a comprehensive settlement with Yardi over a set of lawsuits first filed in January of 2011. Details of that settlement were not announced, however, the RealPage said the deal included a perpetual cross license between the firms, plus an agreement for RealPage to stop offering hosting services for Yardi software to new customers, and to stop providing support or implementation services for Yardi's software.