Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of property management software company RealPage (Nasdaq: RP) fell 14% today after the company announced an acquisition.

So what: RealPage is buying privately held Multifamily Technology Solutions for $74.4 million, net cash acquired. The deal will be paid for with $63.6 million in cash and $10.8 million in stock. Multifamily Technology lists rental properties under the name MyNewPlace.

Now what: The deal seems to fit with RealPage's business and there are some strategic advantages of combining the businesses. Obviously the market doesn't agree and is beating up shares of RealPage in a day stocks are trading mostly higher. RealPage is barely profitable, but it is growing quickly and I think this could give shares a boost long-term.

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