CoStar Buys Matterport Digital Twin Platform for $1.6B

CoStar Group is acquiring the Matterport digital twin platform for 1.6 billion US dollars, according to reports.

Matterport possesses the largest collection of spatial property data in the world, with more than 12 million spaces captured spanning 177 countries, Connect CRE reports.

In a news release, CoStar CEO Andy Florance said digital twins have become essential in real estate.

With the virtual representations, users can explore and evaluate properties remotely, catering to the growing trend of decisions being made without site visits.

Matterport is headquartered in Sunnyvale, California.

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