Two of the best-known companies in real estate photography have united, with 3D tech innovator Matterport announcing this week that it has acquired photo giant VHT Studios. The acquisition will enable Matterport to offer an all-in-one marketing solution for property presentation that includes a range of features including photography, drone imagery, floor plans, virtual tours and other marketing services.
Combining VHT Studios’ visual media services with immersive tools from Matterport’s 3D Digital Twin platform, the acquisition will simplify the process for real estate pros to create comprehensive marketing packages for their listings, Matterport officials say. The company says its enhanced line of features is expected to be available through Matterport’s Capture Services in the third quarter of this year.
“When we looked at VHT Studios and the work they do, it was a natural fit to unite our efforts to reimagine the fragmented process that was in place for brokers and agents to list properties and prospective buyers to view them,” says Matterport CEO RJ Pittman. “We are not only excited for how we can transform the customer experience in the real estate industry but also how we can apply VHT Studios’ expertise to our growing enterprise business as demand for digital twin technology continues to surge.”
VHT Studios CEO Brian Balduf says the deal brings together two complementary services in the real estate industry. “In today’s market, buyers need to move quickly on a property and often only have one opportunity—or less—to view it in person,” Balduf says. “A listing that features high-quality digital content and immersive 3D technology is a transformative experience that empowers buyers to make more confident decisions faster. Together, we believe our services can help move more purchase decisions online by combining rich property information and the ability to virtually inspect, measure and experience a space from anywhere, anytime, as many times as needed.”
Matterport says it also plans to add marketing services to cater to additional markets like commercial real estate, travel, hospitality and retail.
Since its start in 1998, VHT Studios has worked with more than 200,000 real estate professionals to sell more than $200 billion in properties. Matterport, with its spatial data platform, has transformed millions of buildings in more than 177 countries into immersive digital twins.
The terms of Matterport’s acquisition of VHT Studios have not been disclosed.