Investment management firm JLL acquires Israeli real estate technology developing platform Skyline AI. No information has been shared regarding the valuation of this deal.
Skyline AI uses machine learning and artificial intelligence tools to streamline the fragmented data available in the commercial real estate sector that helps investors analyze and find real estate opportunities.
According to officials, the deal will close soon after the completion of a few remaining formalities. JLL plans to combine the expertise of both companies to provide the best possible insights to its consumers.
JLL’s CEO of Global Capital Market, Richard Bloxam, said, “When you combine the intelligence of the best advisors on the ground with a quantitative expert team and AI data analysis, you get insights that are beyond human and create a competitive edge for JLL and our clients.”
He further added that this acquisition would enable JLL to provide innovative and strategic advice to its clients. Integrating Skyline AI’s technology with JLL’s services will also allow the company to accurately predict future property valuations, identify better investment opportunities, improve cost-saving, and help make informed business decisions.
Richard Winstanley founded JLL in 1997. The company specializes in providing real estate services to its customers to help them make better decisions related to investment and future real estate trends.
Co-CEO of JLL Technologies, Yishai Lerner, said, “Our teams consist of knowledgeable real estate experts and world-class technologists who successfully bring new AI offerings like Skyline AI into the fold and provide the best insights to our clients, accelerating JLL’s leadership in CRE technology.”
He also mentioned that this acquisition is a step forward towards JLL’s goal of accelerating its growth by investing in prop-tech enterprises.
The CEO of Skyline, Guy Zipori, said that JLL would help them achieve their vision of revolutionizing the real estate industry using artificial intelligence tools.