FangDD Acquires AI Assets Worth $34.32M, Eyes Expansion in Real Estate Management

FangDD is acquiring assets from a British Virgin Islands company for $34.32 million, as part of its strategy to expand into technology-enabled real estate management. The acquisition is expected to be completed within three months, with an earnout payment structure for the seller. FangDD is a property technology company in China, focusing on real estate transaction digitalization services. The acquisition is expected to enhance FangDD's capabilities in the real estate technology sector.