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DS News November 2022

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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38 Industry Updates From mergers and acquisitions to cutting-edge tech tools and solutions, here's the company news the industry is talking about this month. URBANIMMERSIVE ACQUIRES HOMEVISIT FROM CORELOGIC Urbanimmersive Inc. has signed a final purchase agreement for the acquisition of all the interests of the real estate photography agency, HomeVisit, LLC, from CoreLogic Solutions. CoreLogic will have a right to nominate up to two Board members or observers on the Board of Directors of Urbanimmersive. HomeVisit is a provider of visual content marketing focused real estate solutions, including property listing photography, videography, 3D tours, drone imagery, printing services, and other related services and having generated revenues of $7.83 million for its last unaudited fiscal year ended December 31, 2021, with assets of $2 million and liabilities of $1.7 million. "We are excited to welcome HomeVisit, a well-established and respected brand in the industry to Urbanimmersive's portfolio of brands today," said Ghislain Lemire, President and CEO of Urbanimmersive. "While this represents a significant acquisition that is expected to dou- ble the revenues of the Urbanimmersive Group and makes us a clear leader as a tech-powered real estate photography service business in North America, we are proud of having reached a transaction which will enable us to not use our working capital in short and mid-term, giving us the necessary leeway to build value for our investors. We are also happy and feel privileged to welcome CoreLogic as a strategic partner and shareholder of Urbanimmersive." e acquisition of HomeVisit will be the most important acquisition made by Urbanimmersive since its inception in 2007. It is also considered by Urbanimmersive's management to be the most strategic one as it will significantly expand the company's presence in many regions in the U.S., brings new product offerings, and is setting the table for significant growth and cross-selling opportunities with CoreLogic Group. HomeVisit was acquired by CoreLogic in 2019. CoreLogic is a global property infor- mation, analytics, and data-enabled solutions provider, headquartered in Irvine, California, and serving more than 1.2 million real estate professionals through data-driven insights to help clients make informed decisions. Like all previous Urbanimmersive acquisi- tions, the HomeVisit brand will remain in the forefront to customers. All day-to-day operations of HomeVisit will be integrated on Urbanim- mersive's Photography Enterprise Resource Planning application in the upcoming months. Once completed, HomeVisit's customers will benefit from UI's online ordering system offering Guaranteed Hours Booking experience, easy-to- order 3D marketing packages, and UiMeet3D video conferencing Prime Subscriptions. "I am very pleased, along with our Hom- eVisit and CoreLogic teams, to partner with Urbanimmersive Group," said Devi Mateti, Managing Director at CoreLogic. "For us, Urbanimmersive has clearly demonstrated to have robust business solutions to successfully integrate HomeVisit, add value to our mutual customers buying experience while bringing state-of-the-art 3D and floor plan solutions. We could not have found better hands to take care of our HomeVisits customers."

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