Real estate service company GA Technologies acquired the equity of RW OpCo, a restaurant operator, and expanded into the United States with an aim to grow as a global industry leader in online real estate business, on Thursday.
The company said it will be acquiring full ownership of the rental management and investment real estate marketplace businesses originating in the U.S. that RW OpCo operates to make it the US subsidiary of GA Technologies.
The acquisition will be executed under the condition that two parties agreed upon fulfilling the conditions mentioned in the Foreclosure Sale Agreement, through this management integration, GA Technologies will expand its business foundation in the U.S. area, the company added.
Ryo Higuchi, CEO of GA Technologies stated, “Together, the two companies are aiming for the same business goals and believe that PropTech is the future trend for the real estate industry; therefore, we truly welcome the joining of Renters Warehouse and together we will be promoting the idea of PropTech together in the global market.”
The tech firm also said it can step into the U.S. market and expand its business into 52 locations throughout 6 countries through the business network owned by Renters Warehouse. Renters Warehouse manages about 13,800 properties under its rental management business.
The Tokyo-based company said this acquisition will not only accelerate its process of global expansion from Southeast Asia to the United States but will also allow the company to provide a more convenient, safer way of doing business with the implication of technology.
To read more on Real Estate, head to the link.
