Property Technology Company Announces Acquisition of 3D Digital Giant

A landmark deal that is set to redefine the landscape of digital real estate and property technology, CoStar Group has announced its acquisition of Matterport, the global leader in immersive 3D digital twins and artificial intelligence for the real estate industry. This acquisition, valued at $5.50 per share, reflects an estimated $1.6 billion of enterprise value, marking a significant milestone in the evolution of digital property management and visualization.Founded in 2011, Matterport has revolutionized the way properties are experienced online. By pioneering the first 3D capture solution, Matterport made it possible to create dimensionally accurate, photorealistic virtual tours or "digital twins" of any type of property. This innovative approach has not only enhanced online property listings but has also significantly improved the efficiency and effectiveness of property marketing, inspection, and management across various sectors. $Matterport (MTTR.US)$