SAINT HUBERT, APARTMENT, June 30, 2021 / PRNewswire / – Urbanimmersive Inc. (“Urbanimmersive”, “Company” or “UI”) (TSXV: UI) (OTCQB: UBMRF) is pleased to announce the completion of the acquisition of all outstanding shares in real estate photography agencies EGP Technovirtuel Inc. (“EGP”) and Graphique ID Solutions Inc. (“Graphique ID”) as well as all intangible assets of La Clique Mobile senc (“Clique Mobile”) for an aggregate purchase price of $ 3.03 million, including $ 1.77 million USA payable immediately in cash, USD 100 thousand USA for payment within 100 days and USD 1.16 million paid by immediate issue 6.6 million Company shares at a price USD 0.175 per share. All issued shares are subject to a four-month and daily hold until October 31, 2021, with 5.7 million issued shares with an 18-month blocking period of up to December 31, 2022… The acquisition of these three real estate photography companies is the first step in the accelerated growth plan announced by the Company at 22nd of Junend…
EGP, La Clique Mobile and Graphique ID are all Urbanimmersive clients with long-standing businesses and a solid reputation for residential and commercial architectural photography in their respective market. These photo agencies are profitable, generating a combined $ 1.6 million in revenue in the last fiscal year during a period of historically low home sales and serving together over 5,000 real estate agents worldwide. Canada…
With the acquisition of EGP, Urbanimmersive will also add to its portfolio of technology solutions a remote DLSR HDR camera application developed and owned by EGP. This suitable capture application allows you to standardize photography processes and image quality among large teams of photographers. The app also connects to photography business software to sync service orders and photographers’ schedules in real time and offline. The EGP app will be offered under the Urbanimmersive brand and integrated with the company’s SaaS business solution and 3D Tour Capture app, making it one of the most complete mobile real estate photography apps on the market. For clarity, the EGP and UI blended capture application will allow photographers to capture high quality still images with a professional DSLR camera, create 3D tours using 360 cameras, upload visual content to the cloud, and manage orders and schedules in the field.
In addition to its expanded photography service business, EGP also offers, through a monthly subscription, customized agent websites that generate recurring revenue, which Urbanimmersive intends to integrate and expand with its Tourbuzz real estate website solution.
Over the years, Graphic ID’s photography service has gradually shifted from residential to commercial photography, allowing Urbanimmersive to connect directly with commercial brokerages where the company’s 3D tour technology stands out for its large floor plan space capabilities. Graphic ID has been an Urbanimmersive client since 2009. La Clique Mobile has been offering premium photography services to a large network of real estate clients and the Urbanimmersive client since 2016.
“These first three acquisitions of a real estate photography agency demonstrate our ability to deliver on our new accelerated growth plan and attract a business that performs well even with a small number of homes for sale. They are ideal for achieving profitable growth and accelerating the adoption of our solutions. SaaS solutions with 3D technologies. We also attract talented photography business owners and employees who will immediately empower our market experience, product development and customer service, ”said Ghislaine Lemire, President and CEO of Urbanimmersive.
TSX Venture Exchange has not reviewed this press release and has not approved or rejected its content.
About city diving
Urbanimmersive is a SaaS business management solution that provides mission-critical solutions for visual content providers serving residential, commercial, construction and local commercial real estate. The Urbanimmersive platform helps clients increase productivity and unleash the full potential of visual content creation with cutting-edge website building, AI-powered image indexing, robust file transfers and interactive visual solutions. The company’s core technology is a 3D emulator based on a post-production visual content recognition algorithm that provides online and offline alternatives to traditional 3D engines for creating immersive digital environments. Find out more at urbanimmersive.com…
Cautionary note regarding forward-looking statements
Certain statements in this press release, other than statements of historical fact, are forward-looking information, involving various risks and uncertainties. Such statements, which relate, among other things, to the company’s prospects for improving operating results, are necessarily subject to risks and uncertainties, some of which are significant in scale and nature. These uncertainties could cause actual results to differ from the information contained in this document. There is no guarantee that such statements will be accurate. Actual results and future events could differ materially from those expected in such statements. These and all subsequent written and oral forward-looking statements are based on management estimates and opinions as of the dates they were made and are set forth in their entirety in this notice. The Company assumes no obligation to update forward-looking statements in the event of changes in circumstances, estimates or management opinions.
SOURCE Urbanimmersive Inc.