Hürriyet Emlak, the No.1 property vertical in Turkey, has bought the data analytics firm Innobil in a bid to expand its technology and products.
Innobil is the developer of a product called Xenn.io that collects and interrogates data from web and mobile systems, generates algorithms and produces personalized outputs based on user behavior.
Once the acquisition is finalized, Innobil’s team will join Hürriyet Emlak’s technical and analytical departments. The start-up’s founder Yıldırım Adıgüzel (LinkedIn Profile) has been appointed as the property vertical’s chief technology officer.
CEO, Theo Mseka — who was appointed from Property24 in September — affirmed that Hürriyet Emlak’s digital transformation will be accelerated this year. “We have increased our technical strength with the software and data analytics company Innobil.
“We will continue to develop products that increase the revenue generated by our business partners through Hürriyet Emlak whilst enabling the consumer to find their perfect home a lot faster through an improved user experience within our platform.”
Mseka added that the company hopes to offer the most accurate and current property listings in the Turkish market. “We strive to provide our users with the widest and most reliable options of real estate listings tailored for all budgets and needs. Hürriyet Emlak will continue to invest in innovative products and services by building and incorporating new capabilities into our platform and ecosystem.
The acquisition is still subject to competition authority approval. It comes three months after Hürriyet Emlak recieved an undisclosed capital investment from Goldman Sachs. The investment bank became a minority shareholder in the site in February.