iLOOKABOUT becomes Voxtur Analytics Corp and Closes Acquisition of Voxtur Technologies, Brightline Title and Certain Assets of James E. Albertelli, P.A. - Seite 2

The combination of assets allows the Company to integrate its proprietary data, analytics, and technologically enhanced services to reduce the costs caused by imperfect information.

“Bringing both groups together allows us to differentiate ourselves by being able to offer a unique set of complementary services in real estate valuation, property tax, title insurance and default services. As we harness the data within each of our offerings and incorporate our machine learning and artificial intelligence expertise into these products, we are able to provide differentiated value to consumers and lenders alike,” said Jim Albertelli, founder of JEA and now President of the Company. “We are excited to join forces with Gary and build upon his successful track record. Both management teams have already come together and are fully aligned with the Company’s emphasis on growth and value creation with the long-term vision of creating a fully digitized view of a real estate asset.”

In conjunction with the Acquisition, ILA is delighted to expand its existing credit facilities with Bank of Montreal’s (“BMO”) Technology & Innovation Banking Group for an additional approximate amount of $23.5 million (the “Term Loan”), as previously announced in a news release issued by the Company January 15, 2021. The Term Loan contains customary financial and restrictive covenants, and are secured by assets of ILA and its subsidiaries, which primarily consists of intellectual property and accounts receivable. The proceeds of the Term Loan will be used for costs associated with the Acquisition, other strategic initiatives and general corporate and working capital purposes.  

“We are appreciative of BMO’s ongoing support, which has allowed us to execute on this transformation and strategic acquisition. Besides growing our marketshare, the acquisition will also allow us to add new products and offerings to our platform in the future,” continued Mr. Yeoman.

About ILA
ILA is a transformational data analytics organization that provides transparency to the valuation of real estate assets. ILA is a real estate valuation platform with technologies that leverage the power of data designed to address today's dynamic real estate valuation market. Our proprietary innovative platform provides software and data licenses and technology managed services to the real estate industry, serving primarily the property lending and property tax sectors, both public and private, in the United States (“US”) and Canada. Accurate data and property valuations form the basis for our clients to value assets, fund loans, securitize portfolios and to analyze and update property tax assessments. As a fully integrated valuation technology company, we are setting new standards in real estate valuation quality and reliability. ILA is a brand built on innovation, execution, accuracy, industry expertise and forward-looking products and services.