Property Portal Watch Sponsor VR Tech specialist Matterport is expanding globally with its latest acquisition Virtual Walkthrough, a UK-based company which develops virtual tours for residential and commercial property.
The acquisition comes on the heels of Matterport’s recent entry to the United Kingdom, Canada and Australian markets in Q2 2016.
CEO Bill Brown say says Matterport has experienced strong international demand, and already has customers in over 50 countries. The acquisition positions the company to continue its international expansion.
Brown says Virtual Walkthrough has a tremendous reputation in the UK and Europe, with notable real estate clients such as CBRE, Hammerson and Keller Williams.
He says the company, which was established 2014, is a natural fit for Matterport, in terms of business focus, philosophy, and technology.
“Both companies share the same vision of enabling people to experience places as if they were there,” Brown says. “We aim to continue to expand our vision together, on a global scale, for more people and across more industries.”
Brown says the company will be operated as a wholly-owned subsidiary, and will continue to service clients as usual, though the intention over time is for the Virtual Walkthrough platform to integrate Matterport’s 3D technology to replace its 360° tours.
In addition Virtual Walkthrough will eventually sell the Matterport Pro Camera and Cloud Services as a step towards becoming Matterport’s European business development headquarters .
Virtual Walkthrough creates fully navigable 360° online virtual tours, virtual reality (VR), as well as RICS standard floor plans, photographs and videos.
Since inception, the company has extended its focus to also include leisure and venue space projects, from hotels to exhibition spaces.
Serving all aspects of the UK property market, Virtual Walkthrough has more than 200 clients, including Hammerson, Sellmyhome.co.uk, Standard Life and CBRE.
“With Matterport’s 3D solution, Virtual Walkthrough will be able to provide a more immersive /realistic experience to clients in the UK and Europe,” explains Virtual Walkthrough Co-founder and Chief Commercial Officer James Morris-Manuel.
“Matterport’s advanced technology, including a simple capture system, virtual reality support and more, will allow us to provide additional value to customers and to expand globally.”
Headquartered in California, US, Matterport is an immersive media technology company that delivers an end-to-end system for creating, modifying, distributing, and navigating immersive 3D and virtual reality (VR) versions of real-world spaces on web and mobile devices.
The Matterport Pro Camera and Cloud Services make it quick and easy to turn real-world places into immersive virtual experiences.
Matterport is a Bronze Sponsor of this year’s Property Portal Watch Conference in Madrid.