Cloudaron Group, a cloud service company based in Kuala Lumpur has entered into an agreement with ASX-listed 8common Limited for the acquisition of its subsidiary firm realtors8, for SGD4.23 million (about US$3.2 million)
The transaction is expected to be completed by the second quarter of 2018 where realtors8 will become a wholly-owned subsidiary of Cloudaron.
The main reason behind the acquisition is Ubertor, a SaaS product under the ownership of realtors8. It allows real estate agents to create personalized digital stores to list their properties for rental and sales.
Ubertor’s syndication and online marketing tools enable realty companies to generate traffic, leads and manage relationships with clients.
Cloudaron’s Managing Director CJ Ong commented on the deal saying, “There are great synergies in how we can apply Cloudaron technologies to further enhance the product and geographic expansion to grow revenues.”
Ubertor recently launched its new platform in Canada and a new offering for the US market. This can give access and reach for Cloudaron, especially for its artificial intelligence-enabled chatbots designed to help customer websites.
“What used to be about attracting traffic to your website is now more about converting traffic to sales opportunities, our AI chatbots can chat with the prospective client, and set up sales meetings in real time, all without the intervention of the real estate agent. It’s their 24×7 virtual assistant,” said Ong.
With the Ubertor platform, Cloudaron can also deepen their product bench through delivering digital solutions to the property industry and other industries including those in the fintech space.
Based in Singapore and Sydney, 8common delivers productivity and performance software tools to enterprises and professionals. Its core markets are Australia and North America and its clients include government agencies, large corporates, multi-nationals and individual professionals.
8common’s other products include travel and expense management system expense8, and online surveying solutions suite platform8.