LAVAL, Quebec, Oct. 01, 2018 (GLOBE NEWSWIRE) -- Urbanimmersive Inc. (“Urbanimmersive,” the “Company” or “UI”)
(TSX VENTURE: UI) (OTC PINK: UBMRF), the real estate content marketing platform, provides the following operational updates
regarding its recently announced closing of its acquisition of Tourbuzz, LLC (“Tourbuzz”), the leading real estate photographer
software solution provider in North America.
Following a deep review of Tourbuzz, the Company has been able to identify operational and products synergy
opportunities, translating into significant and immediate expense reduction while ensuring a better time to market for new products
and services market introduction. Moreover, the Company believes that it could be able to leverage Urbanimmersive’s existing
infrastructure and optimizing the cost of services that both companies utilize to run their business, such as server costs, cloud
storage, software, and that it could achieve more operational savings in the next coming months.
In terms of product synergies, it is important to underline the fact that the acquired company Tourbuzz has
built over the last 10 years his reputation and success by having developed and commercialized one of the best suite of products
and services enabling real estate photographers to greatly add value to their services. As market needs evolve and change, Tourbuzz
was recently heavily investing in the research and development on a specialized real estate photographers CRM (Customer
Relationship Management), a business solution designed to increase photographer productivity with an expected released date during
the year 2020. The product synergy resides in the fact that, as part of its content marketing platform, Urbanimmersive is
already having a full feature real estate photographers CRM which is used today by many photographers including one the largest
visual content provider in Ontario and which is (the CRM) the corner stone of Urbanimmersive’s recent triple digits quarter over
quarter growth.
In light of those facts, the Company has laid off some of the Tourbuzz engineers and managers who were working
on this future CRM project. “We are taking the best of Tourbuzz and Urbanimmersive ready to market products and services and we
will blend them in one single state-of-the-art solution,” stated Ghislain Lemire, CEO of Urbanimmersive. “Therefore, in the next
coming weeks, real estate photographers will already be able to take advantage of Urbanimmersive’s business solutions to increase
their productivity and Tourbuzz tours designers to add value to their services. Furthermore, our customers will also have access to
new added value solutions designed to increase their competitive edge thanks to our content marketing platform where photographers
work in teams with professional writers. Urbanimmersive’s organic growth with the very strong Tourbuzz customer base
and talented internal sales and customer support service team, combined with this new one single product and services platform,
position us for a further acceleration in our top line revenues and move us closer to our goal of becoming cash-flow positive,”
added Ghislain Lemire.
About Urbanimmersive
Urbanimmersive is a content marketing platform for real estate professionals. The Corporation connects real
estate professionals, photographers and writers in order to simplify and optimize original content production workflow.
Urbanimmersive enables its customers to leverage their marketing investment while increasing productivity, competitiveness, their
web visibility, consumer engagement with their brand and ultimately, their revenue.
The TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the
contents of this press release.
Caution of Forward-Looking Statements
Certain statements in this news release, other than statements of historical fact, are forward-looking
information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the
company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope
and nature. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance
that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in
such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of
the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no
obligation to update forward-looking statements should circumstances or management estimates or opinions change.
For more information, please contact:
Urbanimmersive Inc.
Ghislain Lemire
President & CEO
514 394-7820 X 202
ghislainlemire@urbanimmersive.com
www.urbanimmersive.com
