By Joshua Burd
CREtech, a Morristown-based commercial real estate technology conference and research company, has acquired what it says is Europe’s largest events company devoted to the sector.
In a news release this week, CREtech said its purchase of London-based FUTURE PropTech is part of a plan to build the largest international property technology community through a new global expansion strategy. The company cited the ongoing growth of the tech sector within real estate, resulting in more than 7,000 funded startups and some $25 billion in investments in 2019, which is double from 2018.
Founded by Gary Chimwa in 2015, FUTURE PropTech has doubled in size every year since its inception and has grown to become the leading and most well-attended event in Europe dedicated to technology innovation and digital transformation in the so-called proptech sector.
Terms were not disclosed.
“Acquiring FUTURE PropTech represents the beginning of our company’s global expansion strategy and there is no better place for us to start then in Europe,” said Michael Beckerman, the CEO of CREtech. “I have been an admirer and supporter of Gary’s since the formation of his company. The quality of the FUTURE PropTech brand, their terrific team and extraordinary conferences are unparalleled in Europe. It is a great honor to welcome FUTURE PropTech to the CREtech family and to continue to build the preeminent global real estate tech conference and research brand.”
The combined platform is planning several events in 2020 that include programs in Austin, London, Napa Valley and New York.
“We are extremely excited to be joining the CREtech family,” Chimwa said. “This is a significant milestone for our young company and it will provide us with the resources to expand internationally at a much faster rate.
“Our combined company will allow us to offer our sponsors, exhibitors and delegates a truly global platform. I have always been very impressed by the high quality of speakers and delegates that attend the CREtech events. So I look forward to working closely with the CREtech team as we continue to build a world class events and research company.”