Richardson, Texas (PRWEB) March 13, 2006
Richardson-based Property Automation Software Corporation, manufacturers of Tenant Pro property management software, recently finalized a formal buyout agreement among its shareholders. Property Automation currently maintains a user base of more than 20,000 throughout the United States and Canada. Although specific terms of the agreement were not disclosed, the arrangement was reported to be amicable and in the continuing best interest of the corporation.
“This is a positive step for all parties, from which employees and customers alike will ultimately benefit,” said Jacob Garza, Property Automation president and CEO. “It will have significant long-range economic impact on the company in terms of the design and development of future products and on our presence in new markets.” Mr. Garza now retains sole shareholdership of the corporation, owning its name and future assets.
Tenant Pro, the flagship product of Property Automation, is a Windows-based program comprised of a complete accounting system and property management database. Now in version 7, the software is designed for small to mid-sized property management businesses, to track detailed information about properties, owners, units, tenants and vendors. Developed and distributed concurrently with the company’s inception in 1992, Tenant Pro today continues to be the top selling property management system in the market.
Over the last two quarters Property Automation reported significant increases in product sales over the same periods in the previous year. Plans moving forward now include focusing on the development of new product lines, staffing additions and a possible relocation of the company headquarters.
Property Automation has over the years received numerous awards and accolades including the DFW Metroplex, Texas and National Fast Tech Awards, which acknowledges the fastest growing technology-based businesses with respect to revenue gains in a one-year period. Forbes magazine has also recognized Property Automation as one the fastest growing companies in the nation, and Tenant Pro software has received five-star ratings and recommendations in various industry reviews.
Those seeking more information about the company and its products are invited to call, or visit http://www.propertyautomation.com.
About Property Automation
Headquartered in Richardson, Texas, Property Automation specializes in the development, sales and support of property management software for Windows operating systems. Since the company’s formation in 1992, its innovative software solutions have enabled thousands of clients to streamline business processes and improve efficiency.
Having never sought venture capital funding, Property Automation has experienced an average growth rate of nearly 60% annually, helping the company build strategic business relationships with Hewlett-Packard, Century 21 International, and Microsoft Developer Network.
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