Stock Report

Aurum PropTech approves 100% acquisition of data analytics company CareerSocially

Posted On : 2022-05-27 15:31:27( TIMEZONE : IST )

Aurum PropTech approves 100% acquisition of data analytics company CareerSocially

Aurum PropTech Limited (formerly known as Majesco Limited) has approved the acquisition of 100% shareholding of Blink Advisory Services Private Limited ('CareerSocially') for a consideration of upto USD 3 million, a data analytics company, at its Board Meeting held on Thursday, May 26, 2022.

CareerSocially founded by three data scientists, Prakash Tejwani, Sahil Rathore and Vishal Sharma is a data analytics company focussed on the real estate sector which harnesses the power of data science, machine learning and artificial intelligence.

CareerSocially has built a robust data analytics practice with SaaS based products and services for the real estate sector which amplifies the effect of Aurum's existing products, BeyondWalls broker aggregation platform and Sell.Do CRM.

CareerSocially uses the power of data for their recommendation engine platform '' enabling real estate developers to get actionable insights for monetising their inventory. Through its SaaS product 'CS Agent Connect', it empowers developers to access the channel partner community as well as to amplify and activate their distribution network.

Its Automated Valuation Model platform is being developed using the power of Machine Learning and Artificial Intelligence with an aim to enable transparency in price discovery for property purchasers.

Speaking about the acquisition, Mr. Ashish Deora, Founder and Chief Executive Officer of Aurum Ventures, said, "With acquisition of CareerSocially, we are geared to create a much needed disruption in the real estate sector by harnessing the might of data analytics, machine learning and artificial intelligence. Our goal is to increase transparency and trust in the real estate sectors for consumers. We see tremendous long-term value in SaaS products and business".

"Last few years have seen a pivotal change in real estate, with industry moving faster towards tech-enabled yet simplified solutions. With Aurum PropTech, we see a great synergy and strategic fitment of our products and solutions which would give us a horizon to grow multi-fold. CareerSocially's USP lies in data-driven products which are harnessed with artificial intelligence and machine learning, which results in cost-effective solutions for our clients", said Prakash Tejwani, CEO & Co-Founder of CareerSocially.

Shares of Aurum PropTech Limited was last trading in BSE at Rs. 87.15 as compared to the previous close of Rs. 86.50. The total number of shares traded during the day was 6486 in over 90 trades.

The stock hit an intraday high of Rs. 87.95 and intraday low of 83.55. The net turnover during the day was Rs. 554832.00.

Source : Equity Bulls


AurumPropTech INE898S01029 Acquisition CareerSocially