reAlpha Tech Corp. (“reAlpha” or the “Company”) (Nasdaq: AIRE), a real estate technology company developing and commercializing artificial intelligence (“AI”) technologies, today announced that it has acquired 85% of the outstanding equity in AiChat Pte. Ltd. (“AiChat”).
AiChat is an award winning Singapore-based company that develops AI-powered conversational customer experience solutions that provide enterprise customers with intelligent chatbots and automation tools that improve customer interactions and operational efficiency. The Company will acquire the remaining 15% on June 30, 2025.
The total purchase price is $1.14 million, which is payable in shares of the Company’s common stock in three tranches beginning no later than January 1, 2025. The Company has also agreed to infuse $300,000 into AiChat at such time determined by the parties. This strategic acquisition marks a significant milestone in reAlpha’s growth trajectory and underscores its commitment to expanding its technological capabilities and market presence in the Asia-Pacific (APAC) region.
reAlpha expects that integrating AiChat’s conversational AI and customer experience platform, which supports over 250 languages, into its business will enhance reAlpha’s technological capabilities by providing customers with more robust and intelligent customer interaction tools due to the sentiment analysis and machine learning capabilities from AiChat’s platform.
Additionally, reAlpha believes that AiChat’s platform capabilities and already established sales channels will increase usage and visibility of its technologies and platforms, including Claire, reAlpha’s commission-free homebuying platform, which in turn is expected to lead to more customers using reAlpha’s platforms when seeking real estate solutions, including homebuyers purchasing a home via Claire. As a result of this acquisition, reAlpha believes its brand and market position in the AI industry will be further bolstered by leveraging AiChat’s brand and expertise in such industry.
The global conversational AI market, the industry AiChat operates in, is projected to expand from $13.2 billion in 2024 to $49.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 24.9% over the forecast period.
Giri Devanur, CEO of reAlpha, commented, “We are thrilled to welcome AiChat to the reAlpha group. We believe this accretive acquisition is a large step in our journey to bring the global real estate industry into the digital era. AiChat’s innovative platform and talented team will accelerate our efforts to make Claire set the new standard for efficiency, accessibility and reliability when it comes to buying a new home.”
Kester Poh, AiChat’s CEO and founder, along with the key management team, are expected to continue to lead AiChat as part of the reAlpha group. reAlpha believes that this will ensure continuity and leverage their domain expertise to drive forward the combined company’s vision. Mr. Poh added, “Joining forces with reAlpha opens up exciting new opportunities for AiChat. We look forward to integrating our technology with reAlpha’s resources and expertise, which will help us to enhance our product offerings and expand our market leadership.”
For additional details concerning the terms of this acquisition, please reference the Company’s Current Report on Form 8-K which will be filed with the U.S. Securities and Exchange Commission (the “SEC”).
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