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Media ReleaseNewsUrbanimmersive

Urbanimmersive on Buying Spree for Real Estate Photography Agencies15998

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Urbanimmersive Media Release
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Screen Grab courtesy of Urbanimmersive


Editor's Note: Interested in selling your real estate photography business? Urbanimmersive - parent company of Tourbuzz – is on a buying spree!
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Urbanimmersive Acquires Immophoto

SAINT-HUBERT, Quebec, Nov. 24, 2021 -- Urbanimmersive Inc. (“Urbanimmersive”, the “Company” or “UI”) (TSX VENTURE: UI) (OTCQB: UBMRF) is pleased to announce having closed the acquisition of all the outstanding shares of the real estate photography agency Agence Immophoto Inc. ('Immophoto') for a total purchase price of $500k, of which $300k payable immediately, $100k payable by the immediate issuance of 103,093 shares of the Company at a price of $0.97 per share and $100k payable in shares 12 months following closing, conditional on Immophoto's meeting revenue growth milestones. All issued shares are subject to a four-month and one-day holding period until March 24, 2022.

This new acquisition allows the Company to pursue its accelerated growth plan announced in June 2021 and follows the recent integration successes of the real estate photography service businesses EGP Technovirtuel, La Clique Mobile, and Graphique ID acquired in June 2021.

Immophoto, a client of Urbanimmersive, is one of the top players in the Quebec market for high-end real estate photography services, which complements the Company's real estate photography service offer in Quebec and consolidates its position of strength in that market. Immophoto is a growing and profitable business that generated revenues of $518k for its last fiscal year has a diversified clientele mainly in the greater Montreal area, a vast experience, and a solid reputation in the market. Caroline Gaudreault, president of Immophoto, former president of the Professional Association of Real Estate Photographers of Quebec ('APPIQ'), has a strong influence in the Quebec market and brings with her a vast network of contacts.

"Over the past few months, we are proud to have been able to successfully integrate our first acquisitions of real estate photography agencies. This success can be measured first of all by the rapid adoption of our monthly subscription packages offered at a competitive price and which include photography services, property websites, 3D tours with floor plans, and a basic version of UiMeet3D. We also benefited from the onboarding of large new customers interested in our packages and all this while maintaining our operating margins and increasing our recurring revenues. As a result, the timing couldn’t be better to add Immophoto and its experienced team to our Group, which represents a strategic and complementary addition to the Group and which was able to brilliantly meet the challenge of growing the business in an unfavorable real estate market,” said Ghislain Lemire, President, and CEO of Urbanimmersive.

"We are delighted to join the Urbanimmersive Group, a leader in technological solutions for real estate marketing. This will allow us to greatly enhance our product offering to our clients and to benefit from additional resources to better serve our customers and continue to grow,” said Caroline Gaudreault, President and CEO of Immophoto.

Tours Virtuales

The Company also completed the acquisition of all intangible assets of the Mexican photography service businessTours Virtuales for a total purchase price of $22,000, including $7,000 payable in cash immediately and $15,000 payable by the immediate issuance of 15,464 shares of the Company at a price of $0.97 per share. All the shares issued are subject to a holding period of four months and one day until March 24, 2022. This acquisition should allow the Company to increase its activities in Mexico and promote, through its experienced reseller already established in Mexico, its 3D marketing solutions, in particular its monthly packages, as well as its 3D photography equipment, in this vast and promising market (population of 126 million).

TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.

About Immophoto

Immophoto, founded in 2011, is a business that offers high-end real estate photography services, having completed over 2,000 photo shoots in the past year. To learn more, visit: www.immophoto.ca

About Urbanimmersive

Urbanimmersive develops and commercializes real estate photography technologies and services focused on redefining industry visual content standards. The Company's all-in-one platform enables high-volume photography businesses to increase operational productivity by delivering feature-rich 3D tours and floor plans, leading-edge property websites, and high-resolution AI-indexed images. The Company operating segments include software (SaaS), 360 camera hardware, and, in a growing number of North American cities, technology-powered real estate photography service business units leading the industry photo-shoots standards transformation. For more information, visit: www.urbanimmersive.com

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Source: Urbanimmersive
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3D Renderings
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ArchimedStudio private msg quote post Address this user
Immophoto is my direct competitor (and ran by a VERY nice lady and great human being)... I'm surprised they "only" made just above $500K last year with at least 5-10 people in the team... This is very close to what I'll make this year, and it's only me (+ my wife that assist me with administration)...

Maybe they should buy me too (but my soul is NOT for sale!)

Let's see if they keep their share of the high-end market, or if they convert Immophoto into a 10-houses-a-day-per-photographer type of company.
If they do, it's too bad, because Immophoto is basically the only company that charges relatively close to my prices (probably the highest in the province).

I do wish them well because they deserve it!

Cheers,
Matt
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Screen Grab from Urbanimmersive

SAINT-HUBERT, Quebec, Dec. 06, 2021 -- Urbanimmersive Inc. (“Urbanimmersive”, the “Company” or “UI”) (TSX VENTURE: UI) (OTCQB: UBMRF) is pleased to announce having completed the acquisition of all the limited partnership interests of the real estate photography agency Virtual Access Tours LP ('VAT') for a purchase price of $CAD 961k ($449k paid in cash and $513k paid through the immediate issuance of 585,829 shares of the Company at a price of $0.875 per share) plus contingent share payments (earn-outs) totaling up to $US 450k, with up to $US 225k payable in 12 months and up to $US 225k payable in 24 months, both share payments being conditional on VAT minimum revenue growth milestones to be met over the next two years. All shares issued today are subject to a 12-month lock-up period until December 3rd, 2022.

This new acquisition reaches a new milestone in the Company’s growth plan with its first real estate photography full-service business acquired in the United States. VAT, a client of Urbanimmersive, founded in 2004 and based in Jackson, New Jersey, is a well-established and well-known full-service real estate marketing firm offering state-of-the-art photography and virtual tours, automated marketing systems, web site designs, floor plans and myriad of other marketing services to help realtors market themselves and their listings better. VAT is strategically located in between high-density regions of New York City and Philadelphia. VAT revenues for its last fiscal year were totaling $US 559k.

"We are proud of having acquired Virtual Access Tours, a long-standing client of Urbanimmersive which is a strong promotor of our 3D marketing solutions, including UiMeet3D, and to welcome Michael and Cathy Basch, former owners of VAT to our team. This strategic acquisition also opens up new growth and cross-selling opportunities in the North-Eastern US territory”, said Ghislain Lemire, President and CEO of Urbanimmersive.

"We are delighted to join the Urbanimmersive Group, a leader in real estate 3D marketing solutions which shall enhance our marketing product offering with their innovative 3D solutions and assist us in growing our business further”, said Michael Basch, President of Virtual Access Tours.

TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.

About Virtual Access Tours
Virtual Access Tours, founded in 2004, is a full-service real estate photography service based in the state of New Jersey, having completed over 2,000 photo shoots in the past year. To learn more, visit . virtualaccesstours.com.

About Urbanimmersive
Urbanimmersive develops and commercializes real estate photography technologies and services focused on redefining industry visual content standards. The Company all-in-one platform enables high-volume photography businesses to increase operational productivity delivering feature-rich 3D tours and floor plans, leading-edge property websites and high-resolution AI-indexed images. The Company operating segments include software (SaaS), 360 camera hardware and, in a growing number of North American cities, technology-powered real estate photography service business units leading the industry photo-shoots standards transformation. For more information, visit urbanimmersive.com.

Source: Urbanimmersive

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@ArchimedStudio

Urbanimmersive continues to acquire real estate photography agencies.

This might be a good time to reach out to Urbanimmersive

Looks like if you use the Tourbuzz platform powered by Urbanimmersive, it might be helpful to get acquired by Urbanimmersive.

Best,

Dan
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