LAVAL, Quebec, Oct. 01, 2018 (GLOBE NEWSWIRE) -- Urbanimmersive Inc. (“Urbanimmersive,” the “Company” or “UI”) (TSX VENTURE: UI) (OTC PINK: UBMRF), the real estate content marketing platform, provides the following operational updates regarding its recently announced closing of its acquisition of Tourbuzz, LLC (“Tourbuzz”), the leading real estate photographer software solution provider in North America.
Following a deep review of Tourbuzz, the Company has been able to identify operational and products synergy opportunities, translating into significant and immediate expense reduction while ensuring a better time to market for new products and services market introduction. Moreover, the Company believes that it could be able to leverage Urbanimmersive’s existing infrastructure and optimizing the cost of services that both companies utilize to run their business, such as server costs, cloud storage, software, and that it could achieve more operational savings in the next coming months.
In terms of product synergies, it is important to underline the fact that the acquired company Tourbuzz has built over the last 10 years his reputation and success by having developed and commercialized one of the best suite of products and services enabling real estate photographers to greatly add value to their services. As market needs evolve and change, Tourbuzz was recently heavily investing in the research and development on a specialized real estate photographers CRM (Customer Relationship Management), a business solution designed to increase photographer productivity with an expected released date during the year 2020. The product synergy resides in the fact that, as part of its content marketing platform, Urbanimmersive is already having a full feature real estate photographers CRM which is used today by many photographers including one the largest visual content provider in Ontario and which is (the CRM) the corner stone of Urbanimmersive’s recent triple digits quarter over quarter growth.
In light of those facts, the Company has laid off some of the Tourbuzz engineers and managers who were working on this future CRM project. “We are taking the best of Tourbuzz and Urbanimmersive ready to market products and services and we will blend them in one single state-of-the-art solution,” stated Ghislain Lemire, CEO of Urbanimmersive. “Therefore, in the next coming weeks, real estate photographers will already be able to take advantage of Urbanimmersive’s business solutions to increase their productivity and Tourbuzz tours designers to add value to their services. Furthermore, our customers will also have access to new added value solutions designed to increase their competitive edge thanks to our content marketing platform where photographers work in teams with professional writers. Urbanimmersive’s organic growth with the very strong Tourbuzz customer base and talented internal sales and customer support service team, combined with this new one single product and services platform, position us for a further acceleration in our top line revenues and move us closer to our goal of becoming cash-flow positive,” added Ghislain Lemire.
About Urbanimmersive
Urbanimmersive is a content marketing platform for real estate professionals. The Corporation connects real estate professionals, photographers and writers in order to simplify and optimize original content production workflow. Urbanimmersive enables its customers to leverage their marketing investment while increasing productivity, competitiveness, their web visibility, consumer engagement with their brand and ultimately, their revenue.
The TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.
Caution of Forward-Looking Statements
Certain statements in this news release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management estimates or opinions change.
For more information, please contact:
Urbanimmersive Inc.
Ghislain Lemire
President & CEO
514 394-7820 X 202
ghislainlemire@urbanimmersive.com
www.urbanimmersive.com