Matterport, Inc., a software company specializing in real estate digital twins, has announced its acquisition of VHT Studios, a U.S.-based real estate marketing company.
With VHT Studios’ visual media services now at their disposal, Matterport aims to expand further into the real estate industry. The company’s goals include increasing the adoption of digital twin technology and adding marketing services for commercial real estate, travel and hospitality, and the retail sector.
“We’re thrilled to welcome the VHT Studios team to Matterport along with the talent and industry expertise they bring,” said RJ Pittman, CEO of Matterport. “When we looked at VHT Studios and the work they do, it was a natural fit to unite our efforts to reimagine the fragmented process that was in place for brokers and agents to list properties, and prospective buyers to view them. We are not only excited for how we can transform the customer experience in the real estate industry, but also how we can apply VHT Studios’ expertise to our growing enterprise business as demand for digital twin technology continues to surge.”
Terms of the transaction were not disclosed. Canaccord Genuity served as the exclusive financial advisor to VHT Studios.
“We are excited to welcome VHT Studios, a market leader in real estate digital marketing technologies, to Matterport today,” added JD Fay, chief financial officer of Matterport. “Having integrated the Enview acquisition earlier this year, our team is looking forward to what we expect will be another successful integration.”
VHT’s marketing services include high-end photography, drone imagery, floor plans, virtual tours, and more. When combined with Matterport digital twins and collaboration tools, this expanded solution will offer brokerages and agents a comprehensive source for their digital marketing needs.
“What makes this acquisition unique is how complementary our services are to one another,” said Brian Balduf, CEO of VHT Studios. “In today’s market, buyers need to move quickly on a property and often only have one opportunity, or less, to view it in person. A listing that features high-quality digital content and immersive 3D technology is a transformative experience that empowers buyers to make more confident decisions, faster. Together, we believe our services can help move more purchase decisions online by combining rich property information and the ability to virtually inspect, measure and experience a space from anywhere, anytime, as many times as needed.”
The marketing solution is expected to be available through Matterport’s Capture Services during Q3 2022. The acquisition will enable more data to be trained on the machine learning systems acquired through Enview and whose data insights will be incorporated into Matterport’s Cortex Artificial Intelligence engine, the company says.
For more information, visit matterport.com and vht.com.