- Voxtur Analytics (VXTR) received final approval to acquire Appraisers Now Ltd
- Appraisers Now is an automated appraisal workflow management platform for the global appraisal market
- The company says the acquisition accelerates the development of Voxtur’s data ingestion engine
- Voxtur is paying C$30.5 million to acquire Appraisers Now
- Voxtur is up 2.00 per cent on the day, with shares trading at $1.00 at 2:46 pm ET
Voxtur Analytics (VXTR) received final approval and completed its acquisition of Appraisers Now Ltd.
Appraisers Now is a is an automated appraisal workflow management platform for the global appraisal market, with significant market share in the U.S. and Canada.
The company says its "strategic acquisition bolsters recurring revenues and accelerates the development of Voxtur’s data ingestion engine, allowing clients to achieve optimal efficiency and cost-savings."
Under terms of the deal, the acquisition cost Voxtur approximately C$30.5 million. The company made a $10 million cash payment and issued 28,571,428 common shares of Voxtur, which carry an approximate value of $20.5 million.
"With this acquisition, the company continues to find innovative ways to empower professionals to do their job more efficiently and cost-effectively. The Anow appraiser-first model benefits all value-chain participants from lenders to consumers and reinforces our vision of the uberization of the entire real estate transaction," said Voxtur Chairman and CEO Gary Yeoman.
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers.
Voxtur is up 2.00 per cent on the day, with shares trading at $1.00 at 2:46 pm ET.