Marketer Technologies to acquire HomeFair
Marketer Technologies today announced that it has entered into a definitive agreement to acquire HomeFair for NOK 20 million in a combined cash and equity settlement. With this transaction, Marketer continues its quest of becoming a global prop tech powerhouse.
With the market leading expertise in data handling, advanced analysis and artificial intelligence possessed by HomeFair, Marketer will be ideally positioned in the growing market for automatically generated reports on real estate valuations and market analysis. Such reports are based on massive amounts of data and are invaluable to both real estate agents and newbuild developers alike - and not least to their end clients - to make better and more fact-driven buy or sale decisions.
By combining the resources and efforts from both companies, the intention is to quickly introduce global and market leading products aimed at real estate agencies and residential newbuild developers worldwide. Marketer expects the reports to strongly improve the success rate for agencies in their efforts for securing assignments, while developers can find support in their investment decisions for new projects with precise and comprehensive market estimates.
“HomeFair is a unique data tech company in the real estate industry, and we are delighted to now include them in our ambitious plan of becoming a global prop tech leader”, states CEO of Marketer, Amir Folkestad Habhab. “We see great value and potential in their existing technology and particularly with the people involved. We are extremely excited to integrate their great talent and expertise with our own.”
As part of the transaction, HomeFair founders Walid Mustapha, Henrik Bjerke and Tyrone Nowell, and their employees will be joining Marketer. Mustapha has a PhD in applied mathematical optimization, while Bjerke and Nowell have M.Sc in physics and AI & machine learning respectively.
“This transaction represents a new and exciting chapter for what has been HomeFair up until now”, comments Walid Mustapha, Chairman of Homefair. “Together with Marketer, we are in a much better position to bring to market the portfolio of products that we believe will best benefit the global real estate industry. We will now together evaluate all commercial options for new products going forward.”
It is expected that all necessary and formal approvals concerning the acquisition will be completed by the end of February, and that the two organisations will start the integration process shortly thereafter. The first product launch following the transaction is anticipated to take place before the summer.
More about Marketer
Marketer is one of the leading prop tech companies in Europe and has established itself as a superior provider of automated solutions for digital marketing of residential real estate. Marketer serves international clients in regions such as Scandinavia, rest of Europe, North America and Australia.
Marketer’s proprietary technology and leading SaaS-solution enables the creation of advanced and data-driven digital marketing campaigns with little manual input. Campaigns are well supported by artificial intelligence that handles everything from production, design, web pages and media purchase. The solution continuously monitors results and optimizes performance, hence ensuring that clients experience maximum return from their marketing resources.
Marketer also operates the residential marketplace portals Newbuilds.com and Eiendom.no exclusively for newbuilds. These portals represent commercial one-stop-shop arenas for new developments, with highly effective service offerings empowering real estate developers in achieving their objectives through each phase of the project lifecycles.