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Matterport Acquires VHT Studios to Accelerate Adoption of Digital Twins for Real Estate

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Matterport Inc

The merged company will expand its Matterport capture service by integrating the industry’s best Matterport digital twins and floor plans with professional photography, drone capture, and marketing services.

Sunnyvale, CA, July 7, 2022 (GLOBE NEWSWIRE)-Matterport, Inc. (“Matterport”) (Nasdaq: MTTR) is a leading and real estate digital twin company announced today that is driving the digital transformation of the world built. Acquisition of VHT, Inc., known as VHT Studios. This is a US-based real estate marketing company that provides digital solutions for brokers and agencies to promote and sell real estate. This transaction combines VHT Studios’ visual media services with the immersive Matterport 3D Digital Twin platform to enhance the buying experience for homebuyers while simplifying the process of creating comprehensive marketing packages for brokers and agents. .. With this acquisition, Matterport aims to increase adoption of digital twin technology and further expand into the real estate industry while adding marketing services to other major markets such as commercial real estate, travel, hospitality and the retail sector. I am.

The acquisition of VHT Studios by Matterport will give real estate agents and their professionals access to a wide selection of marketing services and expertise needed to effectively market and promote real estate. These include high-end photos, drone images, floor plans, virtual tours, and other marketing services. Combined with Matterport digital twins and collaboration tools, the newly enhanced solution not only saves time with intermediaries and agents to easily order to meet their digital marketing needs and uses comprehensive sources, but is also comprehensive. Marketing packages and flexible optional add-ons. This all-in-one marketing solution has proven to deliver one of the richest and most compelling digital experiences for real estate seekers, boosting brokerage and agency sales.

RJ Pitman, Chief Executive Officer of Matterport, said: “Looking at VHT Studios and its work, it’s not about integrating efforts for brokers and agents to list properties and rethink the fragmented processes that future buyers were taking to view them. Not surprisingly, we are an enterprise business that grows VHT Studios’ expertise as the demand for digital twin technology continues to skyrocket, as well as how we can transform the customer experience in the real estate industry. I’m also excited about how it can be applied to. “

“Today, we are pleased to welcome VHT Studios, the market leader in real estate digital marketing technology, to Matterport. We are making strategic investments to expand our business, but as of March 31, 2022, we are about 600 million. We continue to work in good faith to manage the balance sheet of dollar cash and short-term and long-term investments. In addition, we integrated the acquisition of Enview earlier this year, our team will be more successful in the integration. “We look forward to it,” said JD Faye, Chief Financial Officer of Matterport.

Brian Balduf, CEO of VHT Studios, said: “In today’s market, buyers need to move properties quickly, often with less than one opportunity to actually see the property. A list featuring high-quality digital content and immersive 3D technology. Is an innovative experience that allows buyers to make more confident and faster decisions. Our service is a wealth of property information and virtual space anytime, anywhere, as many times as needed. We believe that combining the ability to test, measure and experience will help us make more purchase decisions online. “

An all-in-one marketing solution that integrates VHT Studios and Matterport’s services will be available through Matterport’s Capture Services in the third quarter of this year. This acquisition allows machine learning systems acquired through Enview to train more data and incorporates that data insights into Matterport’s Cortex Artificial Intelligence engine.

Since its founding in 1998, VHT Studios has helped more than 200,000 real estate professionals sell more than $ 200 billion in real estate.7 out of the top 10 brokers1 In the United States, we have customers for VHT studios such as Baird & Warner, Coldwell Banker, Compass, Corcoran Group and Douglas Elliman.

The terms of the transaction have not been disclosed. Canaccord Genuity was the exclusive financial adviser to VHT Studios.

About Matterport
Matterport, Inc. (Nasdaq: MTTR) is a leader in the digital transformation of the world built. Our groundbreaking spatial data platform transforms buildings into data, making almost any space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins, improving every part of the building’s life cycle, from planning, construction and operation to documentation, evaluation and marketing. .. For more information, Matterport.com And our visit Discovery page Browse the collection of digital twins you have captured.

© 2022 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks belong to their respective owners.

Media contacts:
Patrick Santucci
communication
[email protected]

Investor Contact:
Kim Swan, CFA
Vice President for Investors
[email protected]

Description of future prospects
This press release contains statements regarding specific future prospects in the sense of federal securities law. This includes a description of the services and products offered by Matterport and VHT Studios, the markets operated by Matterport and VHT Studios, their respective business strategies and expected synergies. Matterport’s acquisition of VHT Studios, current and potential customers, and industry environment. These forward-looking statements are generally “believe,” “plan,” “expect,” “expect,” “estimate,” “intend,” “strategy,” “future,” and “forecast.” It is identified by the words “do” and “opportunity”. “Plan”, “may”, “should”, “do”, “do”, “become”, “continue”, “probably result”, and similar expressions (as such) Includes negative versions of words or expressions)).

Forward-looking statements are forecasts, forecasts, and other statements about future events based on current expectations and assumptions, and are subject to risks and uncertainties as a result. Due to many factors, including the accelerated digitization of Matterport’s platform, the expected impact and benefits of Matterport’s acquisition of VHT Studios, including the capabilities and performance of VHT Studios visual media, the actual future events will be the future of this document. May differ significantly from the outlook statement. Services and their use by existing and future customers, and Matterport’s ability to integrate VHT Studios visual media services and businesses into Matterport’s existing businesses and operations. The list of factors mentioned above is not exhaustive. Careful consideration should be given to the aforementioned factors and other risks and uncertainties contained in the documents that Matterport submits to the US Securities and Exchange Commission (“SEC”) from time to time. These filings identify and address other significant risks and uncertainties that may cause actual events and consequences to differ materially from those contained in the forward-looking statements. Forward-looking statements are given only as of the date they were created. Readers should be careful not to place excessive reliance on forward-looking statements. Matterport is not obligated and does not intend to update or revise any of these forward-looking statements as a result of new information or future events, except as required by law. Or is it not? Matterport does not guarantee that expectations will be met.

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1 The reference source used for this statement is www.RealTrends.com In relation to securities sales volume in 2021.

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