Imovelweb buys outstanding shares of Union Software

11 Aug 2017

Brazilian real estate classified portal Imovelweb, from the Navent group, told the AIM Group it had acquired the remaining 40-percent stake in local software company Union Software for an undisclosed price.

Imovelweb, one of the top-3 real estate verticals in Brazil, along with Globo’s Zap and VivaReal, already had a controlling stake in Union Software, which it purchased in 2014.

However, according to Imovelweb CEO, Mateo Cuadras, despite owning a controlling stake in Union Software, the Brazilian vertical wasn’t 100 percent involved in the company’s management.

“Now we’re going to fully assume the management of Union Software,” he told us in a quick phone call.

Cuadras said the company’s two founders will remain at Union for a further two years.

Union Software is a major real estate technology provider, along with inGaia, formerly known as I-Value, Vista Software, Nido Tecnologia, among others.

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Léo Siqueira

Léo Siqueira joined the AIM Group in 2014 as writer and analyst for Latin America. He is a multimedia journalist based in, but not limited to Campinas, Sao Paulo. Siqueira has been writing, reporting, and consulting for different news outlets and corporations in Brazil and in the US. Siqueira has worked for almost three years as a correspondent in Brazil with ICIS, the world’s largest information provider for the global petrochemical industry, and has been working with other global publishers, such as USA TODAY and Motorsport.com. His expertise includes general news coverage, online, print and multimedia journalism, and corporate communications as well. In this particular area, he has been working with international clients.