Fatfish Internet Group-backed Cloudaron, a Singapore-based IT solutions company listed in Malaysia, is acquiring Realtors8 Pte Ltd, a subsidiary of ASX-listed 8common Limited that owns and operates Saas provider Ubertor, for S$4.23 million ($3.2 million).
In a statement, Cloudaron said Ubertor allows real estate agencies and agents to create personalised and user-friendly digital stores to list their properties for rental and sales. Ubertor recently launched its new platform in Canada and a new offering for the US market in collaboration with Cloudaron.
The transaction is expected to be completed by the second quarter of 2018. Upon completion of the transaction, Realtors8 will be a wholly-owned subsidiary of Cloudaron Group Berhad.
“Ubertor is well established in the Canadian market, and gives us access and reach to the North American market. The Ubertor platform also deepens our product bench to be able to deliver digital solutions to the Property industry and other industries including those in the Fintech space,” said Cloudaron Group Bhd Managing Director CJ Ong.
Cloudaron made its debut on Bursa Malaysia’s new Leading Entrepreneur Accelerator Platform (LEAP) Market last year. It provides software, systems integration and services, and serves over 150 companies throughout the region with more than one million end-users. It generates 81 per cent of its revenue from users in Singapore.