Business & Finance
Business and Finance
Business and Finance
Tue, February 10, 2009 iLOOKABOUT Corp.: Teranet and Ontario's Real Estate Boards Picture Real Estate Differently with iLOOKABOUT Agreement
LONDON, ONTARIO--(Marketwire - Feb. 10, 2009) - iLOOKABOUT Corp. (iLOOKABOUT) (TSX VENTURE:ILA) today announced that Teranet Enterprises Inc. (Teranet) has secured multiple 5 year relicensing arrangements for iLOOKABOUT StreetScape (StreetScape) data in accordance with the Master Services Agreement signed in Fall 2007. StreetScape data will be provided through Teranet's online Geowarehouse" service. Financial terms were not disclosed.
iLOOKABOUT StreetScape data will be made available, through the GeoWarehouse online service, to an additional 36 Real Estate Boards in Ontario representing more than 18,000 Realtors that serve all regions of the province. This is in addition to the recently announced arrangement to provide the same service to the Real Estate Boards in the Greater Toronto Area (GTA) and their 28,000 members.
"Teranet is a valued customer and partner for our company," stated Jeff Young, President and CEO of iLOOKABOUT. "This new agreement reaffirms our collective commitment to the real estate industry of Ontario through our significant investment in visual data collection across the province."
"StreetScape is an important addition to our products and services and part of our commitment to superior technology and online experiences for customers," said Mike Power, Executive Director, eServices of Teranet Inc. "Now, through the GeoWarehouse online service, real estate professionals in the province of Ontario will have access to a best in class product that offers a new look at their markets."
Currently, the GeoWarehouse channel provides real estate sales professionals in Ontario with comprehensive reports of information including ownership and sales price history, sales in a predetermined geographic radius and time period, and parcel maps of the target property and surrounding properties. The StreetScape digital imagery has been integrated into the GeoWarehouse database for image rich, visual information to complement and contextualize the land registry information. The addition of StreetScape allows online viewing, within the GeoWarehouse online service, of adjacent properties and full neighbourhoods for comparative market and property analysis. Its high resolution imagery with full pan and zoom capability will allow the real estate sales professional to examine and assess specific property features and details, thereby enhancing the data available though the land registry files.
"GeoWarehouse 2009 promises to be a more robust, visually enhanced product that allows for efficient research of properties and unprecedented property views for assessment and analysis, all from the desktop through our 24/7 online service," continued Mike Power.
"We believe this new agreement not only strengthens our partnership and the GeoWarehouse product but further validates the impact and value of our StreetScape product for the real estate industry," stated Jeff Young. "We look forward to working with Teranet's customers and expanding our StreetScape coverage throughout the province."
iLOOKABOUT service teams have completed the integration process with GeoWarehouse. The new service launched on February 1, 2009.
About iLOOKABOUT
iLOOKABOUT is a visual data intelligence company serving commercial enterprise in the municipal, real estate and insurance sectors in North America and Europe with products and services including iLOOKABOUT StreetScape and Virtual Tours. A pioneer in visual data with its Virtual Tour product, the company has also developed iLOOKABOUT StreetScape, a visual data intelligence product for the geo-spatial market. iLOOKABOUT StreetScape is panoramic, comprehensive, street level perspective visual data, geo-coded with latitude and longitude coordinates for accuracy and supported by patented software processes and proprietary security and storage systems. Headquartered in London, Ontario, Canada, iLOOKABOUT has offices in Toronto, Canada and London, UK. iLOOKABOUT's shares are traded on the TSX Venture Exchange under the symbol ILA.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
