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iLOOKABOUT Corp.: iLOOKABOUT Partners With Patriot Properties

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  Published in Business and Finance on Monday, March 9th 2009 at 7:11 GMT, Last Modified on 2009-03-09 07:12:51 by Market Wire
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LONDON, ONTARIO--(Marketwire - March 9, 2009) - iLOOKABOUT Corp. (iLOOKABOUT) (TSX VENTURE:ILA) today announced a partnering agreement with Patriot Properties, Inc. (Patriot) of Lynn, MA. The agreement provides for full integration of iLOOKABOUT StreetScape with Patriot's AssessPro Computer Assisted Mass Appraisal (CAMA) application. The companies also announced the first deployment of the new offering to the City of Revere, MA. Financial terms were not disclosed.

AssessPro, a highly versatile and comprehensive application offers the most powerful assessment tools available in today's market. Full real and personal property valuation models, administration, document and photograph storage, and the best integrated sketch application available are all included. The innovative partnership creates a unique CAMA application with the first fully integrated StreetScape viewer along with traditional "static" images for property record cards. The new imagery empowers Assessors to immerse themselves in neighborhoods from their desktop; creating valuable time and cost savings while dramatically increasing productivity.

"Patriot Properties is excited to be the first CAMA provider to fully integrate the iLOOKABOUT StreetScape product," said James McCathern, Chief Executive Officer & Partner, of Patriot. "Having access to StreetScape imagery provides our customer base with significant time and dollar savings and we see further efficiency by deploying the data not only within the Assessor's office, but throughout our constituent's entire enterprise. As evidenced by our implementation in the City of Revere, we see StreetScape providing better service to our customers."

Patriot will now introduce the enhanced offering to their more than 170 clients across the United States. The integration of iLOOKABOUT's StreetScape data will offer assessors and property appraisers nationwide the ability to fully meet the IAAO requirements for "desk-top" review, creating a more efficient and cost-savings property valuation process. The integration of iLOOKABOUT imagery will afford Patriot clients the capability to review and verify property location, grade and condition, changes in property category as well as evaluate neighborhood attributes to determine any changes in land use codes.

"We are very pleased to have Patriot as our first fully integrated CAMA provider," said Jeff Young, President and CEO of iLOOKABOUT, "Being selected to be integrated into AssessPro, is testament to the foresight of Patriot and the strength of our StreetScape offering," he continued. "We look forward to building a long and mutually beneficial business relationship with Patriot and are excited by the prospect of providing StreetScape imagery to their existing customer base."

The integration process is now complete and available to Patriot customers immediately.

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.

About Patriot

Patriot is the developer of AssessPro, a highly versatile and comprehensive, Computer Assisted Mass Appraisal (CAMA) application with the most powerful assessment tools available in today's market. Full real and personal property valuation models, administration, document and photograph storage, and the best integrated sketch application available are all included. Patriot is headquartered in Lynn, MA.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.