Yardi Sues RealPage

Santa Barbara-based Yardi Systems, a developer of real estate and property management software, has sued Texas-based RealPage, a competing provider of software as a service for the apartment and rental market. According to RealPage, Yardi Systems sued its EverGreen Consulting division, which it acquired in 2009. Yardi said that it alleges that "RealPage and EverGreen Solutions improperly accessed and downloaded software, documentation, and other proprietary information from Yardi's support website, Client Central, using log-in credentials of Yardi's customers, consultants, and employees." RealPage said it believes Yardi had a "hidden intent" in the lawsuit to "inhibit EverGreen from competing with Yardi's consulting service organization."