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6. Urbanimmersive Acquires Agento Marketing | Urbanimmersive Media Release
Urbanimmersive Media Release | Urbanimmersive Acquires Agento Marketing
Saint-Hubert (Quebec), December 16th, 2021 - Urbanimmersive Inc. (“Urbanimmersive”, the “Company” or “UI”) (TSX VENTURE: UI) (OTCQB: UBMRF) is pleased to announce having completed the acquisition of all the shares outstanding of the real estate photography agency Agento Marketing ('Agento') for a purchase price of $1.2M, paid through the immediate issuance of 1,518,987 shares of the Company at a price of $0.79 per share plus a contingent share payment (earn-outs) totaling up to $600k payable in 12 months and conditional on Agento minimum revenue growth and EBITDA margin milestones to be met over the next year. All shares issued today are subject to a minimum 4-month hold period until April 16, 2022.
Agento is a fast-growing and profitable real estate photography service business strategically located in the Gatineau/Ottawa (Canada) region with a diversified customer base serving high profile real estate brokers. Agento revenues for its last twelve months ending Oct. 31, 2021 were totaling $840k.
"We are proud to having completed the acquisition of Agento, a leading brand in real estate photography within their territories which had experienced significant growth over the last few years and which is driven by three skilled and successful entrepreneurs who will be joining our Group. This strategic acquisition should also help our UI Signature brand in Ontario to expand its coverage and consolidate further the Ontarian market”, said Ghislain Lemire, President and CEO of Urbanimmersive.
"We are delighted to join Urbanimmersive Group, a world leader in real estate 3D marketing solutions which shall enhance our marketing product offering with their innovative 3D solutions and assist us with their human, technological, customer support and administrative resources to allow us to focus on expanding our business furthermore”, said Emilio Ousset, President of Agento Marketing.
TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.
About Agento Marketing
Agento Marketing, founded in 2017, is a full-service real estate photography service based in Gatineau (Quebec), having completed over 5,000 photo shoots in the past year. To learn more, visit. fr.agento.marketing.
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.
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By Dan Smigrod | www.WeGetAroundNetwork.com | www.WGAN-TV.comUrbanimmersive Media Release | Urbanimmersive Acquires Agento Marketing
Saint-Hubert (Quebec), December 16th, 2021 - Urbanimmersive Inc. (“Urbanimmersive”, the “Company” or “UI”) (TSX VENTURE: UI) (OTCQB: UBMRF) is pleased to announce having completed the acquisition of all the shares outstanding of the real estate photography agency Agento Marketing ('Agento') for a purchase price of $1.2M, paid through the immediate issuance of 1,518,987 shares of the Company at a price of $0.79 per share plus a contingent share payment (earn-outs) totaling up to $600k payable in 12 months and conditional on Agento minimum revenue growth and EBITDA margin milestones to be met over the next year. All shares issued today are subject to a minimum 4-month hold period until April 16, 2022.
Agento is a fast-growing and profitable real estate photography service business strategically located in the Gatineau/Ottawa (Canada) region with a diversified customer base serving high profile real estate brokers. Agento revenues for its last twelve months ending Oct. 31, 2021 were totaling $840k.
"We are proud to having completed the acquisition of Agento, a leading brand in real estate photography within their territories which had experienced significant growth over the last few years and which is driven by three skilled and successful entrepreneurs who will be joining our Group. This strategic acquisition should also help our UI Signature brand in Ontario to expand its coverage and consolidate further the Ontarian market”, said Ghislain Lemire, President and CEO of Urbanimmersive.
"We are delighted to join Urbanimmersive Group, a world leader in real estate 3D marketing solutions which shall enhance our marketing product offering with their innovative 3D solutions and assist us with their human, technological, customer support and administrative resources to allow us to focus on expanding our business furthermore”, said Emilio Ousset, President of Agento Marketing.
TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.
About Agento Marketing
Agento Marketing, founded in 2017, is a full-service real estate photography service based in Gatineau (Quebec), having completed over 5,000 photo shoots in the past year. To learn more, visit. fr.agento.marketing.
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.
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