iLOOKABOUT Acquires Stake in Clarocity

iLOOKABOUT (TSXV:ILA), real estate software company announced that it has acquired 100 percent outstanding common shares of Clarocity. Real estate valuation company Clarocity is headquartered in Calgary, and has been in operation since 2004.

As quoted in the press release:

Clarocity provides comprehensive valuation analytical services to a roster of well recognized clients through a national practice operated from its headquarters in California. By combining Clarocity’s innovative real estate valuation software and proven proprietary products with ILA’s property tax analytics software and access to data, ILA will create a powerful solution that will offer clients throughout North America a unique real estate analytics platform.

ʺWith this acquisition ILA will be in a position to deliver a valuable suite of products and services to the real estate sector offering a breadth of insight, understanding and analytics distinctive in today’s marketplace,” said Gary Yeoman, Chief Executive Officer of ILA. ʺIn addition to the near‐term benefits anticipated with the addition of Clarocity’s significant client base and potential for recurring revenue, the transaction is expected to accelerate the evolution of ILA’s valued investments in technology and the accumulation of proprietary industry data into a resilient and dynamic growth platform.”

Click here to read the full press release.