— Oulu / Helsinki, Finland; September 10th, 2018 —
CubiCasa Oy, a pioneering company in real estate technology, has acquired the majority of Virtual Design Rendering Oy (“Virtual Design”).
The acquisition enables combining the strategic strengths of the two companies: visualizations and technology. The primary goal is to establish a strong position in domestic market, in response to accelerating the change in homebuyers’ behavior. When looking for a new home, most begin their research online – the visual elements in a property listing are crucially important.
Virtual Design is an established player in the marketplace, especially in Helsinki area, providing property floor plans, photography, and 3D rendering, among others. CubiCasa has made great investments in their proprietary technology, including e.g. artificial intelligence and computer vision.
“The acquisition helps us to improve our commercial and R&D related capabilities. In domestic market, the two brands are widely recognized and appreciated among the industry. Meanwhile, CubiCasa is able to boost its expansion towards the global market: a scalable service to scan and process real estate data for different uses in various formats”, says Mr Harri Pesola, CubiCasa CEO.
“We see the acquisition as very positive for us and our customers. Our visualizations combined with the CubiCasa technology is a strong competitive asset”, says Mr Jarkko Liimatainen, Virtual Design founder.
The details of the acquisition are not disclosed. The brands of both CubiCasa and Virtual Design continue to coexist separately.
CEO, CubiCasa Oy
+358 50 917 1125, email@example.com
Founder, Virtual Design Rendering Oy
+358 50 366 5224, firstname.lastname@example.org
CubiCasa Oy is founded in Oulu, Finland, 2014. Known for its innovative technology, the company is involved in e.g. Moderne Ventures Passport accelerator program, and KiraDigi; the flagship project of the Finnish Government.
Virtual Design Rendering Oy is founded in Helsinki, Finland, 2006. The company offers a broad scale of property indoor and outdoor visualizations for real estate agents, brokers, and developers.