Spatial data company Matterport has announced the acquisition of 3D AI specialist Enview for a reported $35.5 million plus 1.59 million shares of Matterport’s Class A common stock.
Enview is a world leader in the niche of interpreting 3D data through AI, a task that is apparently notoriously complicated and fraught. According to a press release, Enview's technology is used to "solve mission critical challenges ranging from vegetation management for Fortune 500 utility companies, automating property analysis for insurance and disaster recovery applications, and logistics and mobility applications for national security customers."
With its acquisition of Enview, Matterport aims to cement its position as a market leader in the space of building digital versions of buildings (or 'digital twins' as they are known). The company that went public on the NASDAQ via a SPAC merger in July 2021, is known for providing many of the increasingly popular digital twins for property portal listings.
Commenting on the acquisition, Matterport's Chairman and CEO RJ Pitman said:
“We turn buildings into data, and for the next decade of growth, our focus centers on unlocking the power of that data for our customers around the world. Enview’s powerful spatial data analysis technology fits right into this strategy and readily complements the Matterport platform. Together, we can deliver breakthrough building analysis and data insights to our customers including automated building inspections, AI-powered space planning, and property utilization analysis to deliver operating efficiencies in a completely digital environment,”