reAlpha Tech Corp. Enters into Letter of Intent to Acquire United Software Group
reAlpha Tech Corp. (“reAlpha” or the “Company”) (Nasdaq: AIRE), a real estate technology company focused on developing, utilizing and commercializing real estate-focused artificial intelligence (“AI”) to drive efficiency, sustainability and growth, announced today that it has signed a letter of intent (the “LOI”) to acquire United Software Group (“USG”), an Ohio-based privately-held, multi-industry information technology (“IT”) consulting company operating on a global scale (the “Acquisition”).
- reAlpha Tech Corp. (“reAlpha” or the “Company”) (Nasdaq: AIRE), a real estate technology company focused on developing, utilizing and commercializing real estate-focused artificial intelligence (“AI”) to drive efficiency, sustainability and growth, announced today that it has signed a letter of intent (the “LOI”) to acquire United Software Group (“USG”), an Ohio-based privately-held, multi-industry information technology (“IT”) consulting company operating on a global scale (the “Acquisition”).
- Acquiring USG will serve to advance reAlpha’s strategy to propel the digitization of the real estate industry through the development and deployment of innovative AI solutions.
- Under the terms of the LOI, reAlpha intends to acquire USG through a combination of common stock and cash, some of which cash payments are subject to performance-based earn-out measures.
- reAlpha believes that the Acquisition will provide significant synergetic contributions to our existing portfolio of technologies, in addition to providing immediate contribution to reAlpha’s revenues.