Sunday, April 13, 2008

iLOOKABOUT Signs First U.S. Geo-Spatial Contract

At the 2008 Realcomp "Tools of the Trade" Expo held today, Realcomp II Ltd. officially announced its agreement with iLOOKABOUT Corp. for the iLOOKABOUT Streetscape product which was signed in the Fall of 2007. Realcomp, based in Farmington Hills, is Michigan's largest real estate MLS provider for iLOOKABOUT StreetScape, location-aware digital imagery of properties in Metropolitan Detroit comprising the Southeast Michigan counties of Wayne, Oakland, Macomb, Livingston, and St. Clair, and additional photography services for Lapeer, Genesee and Washtenaw counties.

Realcomp has an exclusive license for the use and provisioning of iLOOKABOUT StreetScape for the real estate industry in Michigan. The licensing agreement includes software applications, data collection, hosting, professional services and training and development of Realcomp personnel.

"We welcome this partnership with Realcomp, an organization known for and dedicated to serving Michigan REALTORS® with leading products and services," stated Jeff Young, President and CEO of iLOOKABOUT. "We believe StreetScape and our digital imaging software services like ImageStore will provide a significant competitive advantage to Realcomp and its subscribing REALTORS®."

iLOOKABOUT continues to develop a photo library of location-aware images for use by RealComp and REALTORS® with its proprietary new product iLOOKABOUT StreetScape. The company, a pioneer in virtual tour technology and a long-time service provider to Realcomp, recently developed iLOOKABOUT StreetScape, a visual data intelligence product with street level perspective, high resolution, panoramic visual data, geo-coded to latitude and longitude coordinates for accuracy.

"We are constantly looking for new, innovative opportunities that create competitive advantage for our subscribers", said Karen S. Kage, CEO of Realcomp. "iLOOKABOUT StreetScape is a real win-win for subscribers, their clients and Realcomp. This new digital photo library of Southeast Michigan will be a powerful tool by which we will reduce costs, improve services, and create new revenue opportunities."

"We believe iLOOKABOUT StreetScape is the next state-of-the-art technology solution for our REALTOR® subscribers," said Ken Franklin, Realcomp's Director of Information Technology, "Our job is to provide information services and tools to our 12,000+ REALTOR® subscribers that will cost effectively grow their business. Integrating our real estate listings and public record data with the visual data supplied by iLOOKABOUT will create an important strategic asset for Realcomp and our subscribers."

Mark Sheppard, Chief Operating Officer of iLOOKABOUT commented, "We look forward to working closely with the Realcomp team over the next three years. We think that as Realcomp subscribers begin to use the visual data and see benefits like virtually driving the streets of Southeast Michigan and the unique perspective, high accuracy and utility of iLOOKABOUT StreetScape that they will see the advantage in our visual data intelligence versus traditional photography."

Visual data collection by iLOOKABOUT is currently underway in the above mentioned counties with first use for Realcomp subscribers planned by the fourth quarter of 2008.

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 recently 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 also has offices in Toronto Canada, and London, U.K. iLOOKABOUT's shares are traded on the TSX Venture Exchange under the symbol ILA.

About Realcomp II Ltd.
Realcomp is headquartered in Farmington Hills, Michigan and has continuously operated as a full-service provider to the real estate industry, offering Multiple Listing Services, real property data, products and training since 1994.

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

Jeff Young
President and CEO
(519) 963-2015
(519) 963-5009 (FAX)


Post a Comment