You already may be familiar with Matterport. The firm operates a 3D data capture platform which has become a popular way of creating interactive room models.
Matterport’s offering has proven particularly popular among real estate developers, who use the technology to stage photorealistic virtual property tours. This could be for remote would-be tenants, or showing off an as yet unfinished home to prospective buyers.
But, now it has been acquired by the CoStar Group, a mult-national real estate magnate, it should be able to expand significantly. This seems especially likely when you consider that its buyer specializes in analytics, which relies on accurate on-the-ground information.
Following its takeover, the CoStar Group has committed to “increasing the development and deployment” of Matterport’s AI-led digital twinning technology. Particular areas targeted for gains include data extraction from 3D spatial data libraries and advancing generative AI.
For his part, Matterport CEO RJ Pittman says the deal will “transform how properties are marketed, sold, and managed worldwide.” With so many homes now sold or let via online viewings, there’s every chance that additional backing will indeed make this possible.
But the acquisition also represents an interesting turning point in the relationship between 3D scanner users and manufacturers. CoStar were clearly so impressed with the application of Matterport’s technology in its area of expertise, that it opted for a full takeover.
Maybe this could also happen elsewhere in the industry. Although, like all M&A activity, you never really know until these deals are over the line. So we wouldn’t put our house on it!
