JLL (NYSE: JLL) has agreed to acquire Skyline AI, an artificial intelligence technology company that uses proprietary machine learning models in commercial real estate.
“The acquisition of Skyline AI is a significant step for JLL as we look to provide the most strategic and creative advice to our clients,” said Richard Bloxam, CEO of global capital markets, JLL. “When you combine the intelligence of the best advisors on the ground with a quantitative expert team and AI data analysis, you get insights that are beyond human and create a competitive edge for JLL and our clients.”
“This acquisition demonstrates the value and synergies of JLL Spark, as we invest in innovative proptech companies and leverage the resources of JLL to accelerate their growth,” said Yishai Lerner, co-CEO, JLL Technologies, a business division of JLL dedicated to CRE technology. “Our teams consist of knowledgeable real estate experts and world-class technologists who successfully bring new AI offerings like Skyline AI into the fold and provide the best insights to our clients, accelerating JLL’s leadership in CRE technology.”
“JLL provides the perfect platform to realize our vision of transforming CRE using AI,” said Guy Zipori, co-founder and CEO, Skyline AI. “Skyline AI has worked closely with JLL as an investor since 2018. The next natural step is to become part of JLL, a multi-billion-dollar global company that sees the transformative power of the Skyline AI platform.”
J.P. Morgan acted as an advisor to Skyline AI in this transaction.