Dentons has advised Stratus Data Systems company Gobii Europe on the establishment of a joint venture with the CSOB Group to bring the Igluu technology solution to the Czech real estate market. Glatzova & Co reportedly advised the CSOB Group.
The Igluu technology solution will provide digital tools, including a public online portal with a real estate listing, cadastral data, and real estate valuation, also integrating CSOB's innovative technologies. While already being used by more than 115,000 real estate professionals in the US and Canada, the first version of the solution is expected to launch in the Czech market in late 2021 or early 2022.
According to Dentons, “the technology will significantly simplify and speed up [the work of real estate professionals and financial intermediaries], accelerate the arrangement of mortgage loans and other housing-related services, and support the development of new business opportunities. … This service will benefit all those interested in buying or renting housing as well as other participants in the real estate market.”
Dentons' team included Prague-based Partner Petr Zakoucky, Counsel Petr Kotab, Senior Associates Ivo Hartmann and Adam Prerovsky, and Associates Lucie Kubinyiova, Petr Muller, and Justina Bodlakova as well as New York-based Partner Timothy Santoli and Counsel Adrian Stewart.
Editor's Note: After this article was published, Glatzova & Co confirmed it had advised the CSOB Group on the deal. The firm's team was led by Partner Jan Vesely.