The acquisition is considered one of the largest and most strategic acquisitions made by Urbanimmersive because it “will significantly expand the company’s presence in many parts of the United States, bring new product offerings and prepare the ground for significant growth and cross-selling opportunities with CoreLogic Group.”
“We are delighted to welcome HomeVisit, a well-established and respected brand in the industry, to Urbanimmersive’s brand portfolio today,” said Ghislain Lemire, President and CEO of Urbanimmersive. “While this is a significant acquisition that should double Urbanimmersive Group’s revenue and establish us as a clear leader as a technology-driven real estate photography services company in North America, we are proud to have concluded a transaction with CoreLogic that allows us to not use our working capital in the short and medium term, giving us the necessary flexibility to create value for our investors. We are also pleased and feel privileged to welcome CoreLogic as a strategic partner and shareholder of Urbanimmersive.
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Devi Mateti, Managing Director of CoreLogic, said, “I am very pleased, along with our HomeVisit and CoreLogic teams, to partner with Urbanimmersive Group. For us, Urbanimmersive has clearly demonstrated that it has robust business solutions to successfully integrate HomeVisit and add value to the shopping experience for our joint customers while bringing 3D and floor plan solutions to the cutting edge technology. We couldn’t have found better hands to take care of our HomeVisit customers.