reAlpha Tech Corp. Enters into Letter of Intent to Acquire United Software Group - Seite 2

Mr. Vallabhaneni added, “Our journey began as a small private company 21 years ago to a global player on pace to generate over $80 million in gross revenue in 2023. Today, we take an exciting step in our journey to partner with a Nasdaq listed public company.” By joining forces with reAlpha, we believe we are well-positioned to innovate the real estate industry in a way that resonates on a global scale.”

Upon the close of the Acquisition, it is expected that USG will become a wholly-owned subsidiary of reAlpha with Mr. Vallabhaneni to continue serving as USG’s CEO. For additional details concerning the terms of the LOI, please reference the Company’s quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission on December 18, 2023.

About reAlpha Tech Corp.

reAlpha Tech Corp. (Nasdaq: AIRE) is a real estate technology company with a mission to develop, utilize and commercialize real-estate focused artificial intelligence to drive efficiency, sustainability and growth. Founded with a focus on short-term rental properties, reAlpha’s strategy involves developing and buying technologies aimed at democratizing access to this asset class. In addition to providing individual investors with access to short-term rentals, reAlpha plans to make some of its technologies available for commercial use on a licensing fee basis, pay-per-use basis or other fee arrangements. For more information about reAlpha, visit www.realpha.com.

About United Software Group

USG is a global information technology consulting company founded in 2002 and headquartered in Dublin, Ohio. USG operates across six countries including the United States, Mexico, Canada, United Kingdom, Ireland and India. For more than 21 years, USG has served its global clients with IT solutions, product development, SAP and ERP-based solutions and data engineering spanning multiple industries including banking and finance, insurance, manufacturing, healthcare, retail, life sciences, automotive, telecom and infrastructure. As a proud “Minority-Owned Enterprise,” USG has been recognized multiple times by Inc. 5000 as one of America’s “Fastest Growing Private Companies”.