merger acquisition

Realty portal NoBroker on Tuesday said it has acquired Society Connect for an undisclosed amount.

Society Connect, a startup founded in 2016, is a technology mapped platform for society management. It has a major presence in the national capital region.

NoBroker said in a statement that it has acquired Society Connect in an all cash deal, but did not disclosed the amount.

“With the acquisition, NoBroker aims to further strengthen its hold in the visitor and community management space where it already has a strong presence with its app NoBrokerHood,” it added.

The company will hire all Society Connect’s employees to combine efficiencies of their ERP (enterprise resource planning) system along with its own visitor and community management app NoBrokerHood.

NoBroker.com is a tech-enabled brokerage-free real estate platform. It has so far raised USD 121 million through several rounds of funding.

It participates in the entire user journey starting from the house search to packers & movers, home loans, rental agreements, cleaning services, and NoBroker Pay. It has more than 7.5 million registered users. PTI MJH

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