 "Real estate portal PropTiger.com acquires interactive tech firm OoBi")
Delhi-based online real estate advisor, PropTiger.com has acquired Bangalore-based Out of Box Interaction (OoBI), a leading digital interaction design company that specializes in displaying real estate projects using technology.
The deal size was not disclosed.
The company is actively looking at other acquisitions in the short future, said Dhruv Agarwala, Co-Founder and CEO, PropTiger.com for augmenting content and technology.
[caption id=“attachment_1119153” align=“alignleft” width=“380” class=" “]  Representational image. Reuters[/caption]
Funded by News Corp. SAIF Partners, Accel Partners and Horizon Ventures, Proptiger.com provides end-to-end home buying experience from search to selection and has a presence in all major real estate markets in India.
Talking about the acquisition, Agarwala said, “OoBI provides interaction through multi-touch hardware and software business intelligence and analytics. The acquisition of OoBI will help us in adding a new dimension to our customers’ home search process by making digital information more tangible and interactive. OoBI will work as PropTiger’s design and innovation studio and offer products to inform and engage home buyers’.”
OoBI, co-founded by IIT-Bombay alumni Atish Patel and Kumar Ahir, offers interactive technology to showcase real estate projects.
It has developed products and solutions for more than 42 real estate developers in India and facilitated the sale of over 270 projects across the country.
OoBI’s co-founders and team will continue to work with the company post the acquisition.
“Buying a home is an investment of a lifetime; traditional media cannot adequately showcase important aspects of properties that are under development and doesn’t really provide sufficient information to justify an investment. Moreover, what is available in the market in the name of virtual reality is very basic. What OoBI’s design and innovation studio will offer to real estate developers and PropTiger.com customers will take the home buying experience to the next level,’’ says Atish Patel, Co-Founder, OoBI.
Impact Shorts
More ShortsFrom being based in three cities now – Mumbai, Bengaluru and Chennai – OoBI is are looking at a pan-Indian reach post the acquisition.
“We will focus on Delhi and NCR first and look at building new teams as we expand,” added Patel.
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