reAlpha Tech Corp. Finalizes Acquisition of Naamche, Bolstering AI Capabilities in Real Estate

reAlpha Tech Corp. (Nasdaq: AIRE), a leading real estate technology company specializing in artificial intelligence (AI), has successfully completed its acquisition of Naamche, Inc. and Naamche, Inc. Pvt. Ltd. (collectively referred to as “Naamche”). Naamche, a technology firm renowned for its AI-powered solutions tailored for various industries, particularly real estate, now joins forces with reAlpha to further innovate the digital landscape of the real estate sector.

With the completion of the acquisitions, reAlpha welcomes 43 skilled professionals, including AI engineers, developers, UX designers, and creatives from Naamche. This newly expanded team will spearhead the conceptualization, design, and implementation of cutting-edge digital products aimed at meeting the evolving needs of the digitized real estate market. Leveraging Naamche’s proficiency in AI, machine learning (ML), and data engineering, reAlpha aims to enrich its product portfolio and strengthen its research and development initiatives. Notably, Naamche’s contribution includes the development of Claire, reAlpha’s revolutionary “commission-less” AI platform for real estate buyers, currently available in select areas of Florida.

Giri Devanur, CEO of reAlpha, expresses enthusiasm about the milestone achieved through this strategic transaction, emphasizing the company’s commitment to advancing AI-powered solutions in real estate. He welcomes the integration of Naamche’s talented team into reAlpha’s workforce, foreseeing fruitful collaborations to drive product innovation tailored for the real estate sector.

Ramesh Pathak, CEO of Naamche, shares his excitement about joining forces with reAlpha, highlighting their shared vision of revolutionizing the real estate industry through technological innovation. Together, they aim to pioneer cutting-edge solutions and modernize the digital landscape of real estate.

Naamche, founded in 2020 by Ramesh Pathak, Barun Pandey, and Saramsha Dotel, brings a wealth of expertise and innovation to reAlpha’s ecosystem.

The acquisitions, previously approved by reAlpha’s Board of Directors, involved a purchase price comprising a combination of cash and equity. For further details on the transaction terms, refer to the Company’s Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission (“SEC”) on December 4, 2023, and February 8, 2024.

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