VC-backed real estate technology company Matterport, which develops software that enables complete virtual solutions, is the latest company to investigate the IPO through a blank check company.
The company is in talks to compile a list of a merger with Gores Holding VI, a special purpose vehicle established late last year by investment firm Gores Group, Bloomberg News reported. The companies confirmed the agreement in a press release on Monday morning.
The transaction is expected to close in the second quarter of 2021. The new company will be known as Matterport Inc. and will be listed on Nasdaq as MTTR. The transaction would value the combined company at more than $ 2 billion, according to Bloomberg.
Real estate virtual passageways have become increasingly popular during the pandemic, especially in areas of the country where personal screenings were banned for a period of time.
Matterport’s 3D technology is used in more than 130 countries by customers who …