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Urbanimmersive Announces Letter of Intent to Acquire Tourbuzz

In: 
Published: 10/04/2018
By: larry

Thanks to Dave in Perth, AU for pointing out this news that many readers will be interested in:

LAVAL, Quebec, April 03, 2018 (GLOBE NEWSWIRE) -- Urbanimmersive Inc. (“Urbanimmersive” or the “Corporation”) (TSX VENTURE:UI.V) (OTC PINK:UBMRF), the real estate content marketing platform, and Tourbuzz, LLC (“Tourbuzz”), the leading real estate photographer software solution provider in North America, are pleased to announce that the two companies have signed a binding letter of intent (the “LOI”) on March 30, 2018, for the acquisition of Tourbuzz by Urbanimmersive (the “Transaction”), subject to the conditions contained therein which are summarized below.

Congratulations to Alan Pinstein and Paul Rodman (founders of Tourbuzz). They both have done a great job in creating a fantastic product for real estate photographers!

2 comments on “Urbanimmersive Announces Letter of Intent to Acquire Tourbuzz”

  1. Change is not always good although it can be. But just look at HomeAway/VRBO where, for the owners, its sale has destroyed the great platform VRBO used to be before it was acquired. So as I celebrate the great things Tourbuzz has done for us, I am not at all sure this will be a good thing for us although it is probably great for the owners.

  2. Larry, thanks for the kind words! We have enjoyed the last 10 years of building up Tourbuzz as a business, and really appreciate your blog and support for Tourbuzz over the years. Tourbuzz is only as successful because of our customers, and we are really grateful for everyone's business. It's been an absolute pleasure growing the entire real estate photography market with all of you these last 10 years.

    Peter, you're right in that change is not always good. But, good is always a choice! While of course it's an exciting moment as an owner to reach a sale, it's also incredibly important to us as stewards of the Tourbuzz brand to do the right thing for every single customer that depends on Tourbuzz. We have been very thoughtful with this process to ensure a GREAT outcome for all of our customers!

    We love the Tourbuzz business. We love being a critical player in supporting the entrepreneurial dreams of 1500+ real estate photographers. A huge reason that we moved forward with this deal is because UrbanImmersive shares this vision. We both deeply believe that independent real estate photography businesses are the best way to deliver real estate imaging at scale, and together we are committed to continuing to invest in your success. We are also excited to have access to UrbanImmersive's product portfolio available to our photographers, which we believe will help our photographers be even more competitive.

    Tourbuzz will continue as we always have, focusing on building the best platform for independent real estate photographers to maximize their time, profit and freedom.

    We look forward to talking to you more about this exciting new chapter for Tourbuzz as it continues to unfold.

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