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RESAAS Services strikes technology deal with LEGACY Council of Canada

This agreement with RESAAS supersedes a memorandum of understanding previously signed with the REIN Group of Companies
RESAAS Services strikes technology deal with LEGACY Council of Canada
Proptech (property technology) is poised to push real estate businesses to the next level

RESAAS Services Inc (CVE:RSS), a tech group focused on the real estate sector, has struck a deal with a boutique real estate investment advisory firm to license the company's technology.

LEGACY Council of Canada provides access to service providers in real estate, finance and estate planning and uses AI (artificial technology) and new technologies developed by RESAAS.

READ: RESAAS names Chan as CFO of the cloud-based real estate platform company

This agreement with RESAAS supersedes a memorandum of understanding previously signed with REIN Group of Companies in May 2018 - one of LEGACY's portfolio brands.

"Since forming a relationship with REIN in the spring of 2018 and then LEGACY Council of Canada in early 2019, we have uncovered areas within the proptech sector that are primed for innovation," said RESAAS CEO, Tom Rossiter.

"LEGACY's commitment to their thousands of members, and providing them with never-before-seen technology through new investment in the RESAAS technology platform, will position them for unprecedented growth in 2019."

The agreement means additional new customization to the platform worth $200,000 and has a term of five years.

Jean-Guy Francouer, chief growth officer at LEGACY Council of Canada, said: "We have had a tremendous response from our members about our plans to digitize some of the very core fundamentals we provide.

"Proptech (property technology) will push real estate businesses to the next level, through growth using real estate tools, artificial intelligence, technology and apps.

"The value we provide our members will be tremendous, as the basis for the technology is built from RESAAS' award-winning technology platform that already has an enterprise value of approximately $25m.

"By extending it for our own specific needs, we will have a best-in-class solution for our members."

Resaas shares were unchanged at $0.43.

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