Matterport has completed a deal to buy AI-focused 3D spatial data provider Enview in a cash and stock transaction.
Under the agreement, Matterport has bought all of the issued and outstanding equity interests in Enview for a combined price of $35.5m (£26.2m) in cash and nearly 1.6m Matterport Class A shares.
Matterport said the deal will speed up the development of its spatial data analytics platform.
Enview, which was founded in San Francisco in 2015, has a 3D AI platform that can be used as part of a digital twin system. Its capabilities include object recognition, feature extraction, feature-based change detection, 2D and 3D measurement and attribution.
RJ Pittman, chairman and chief executive of Matterport, said the technology would be used to deliver “breakthrough” building analysis and data insights, including automated building inspections, AI-powered space planning and property utilisation analysis.
Pittman said: “For more than a decade Matterport has led the digital transformation of the built world. We turn buildings into data, and for the next decade of growth our focus centres 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.”
San Gunawardana, co-founder and chief executive of Enview, said: “Joining Matterport provides a unique opportunity to pair our leading 3D AI technology with Matterport’s rich spatial data to provide new levels of datafication and insight to customers around the world.
“We could not have asked for a better company to partner with to extend our work and build a world-class analytics platform for customers to increase the value of every one of the world’s 4bn buildings.”
To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews
