Beeline Holdings (NASDAQ: BLNE) entered into a non-binding letter of intent to acquire the remaining interest in MagicBlocks, an AI-driven real estate technology company focused on transaction lead generation, production automation and workflow systems for financial services and real estate applications. Beeline currently owns approximately 47.6% of MagicBlocks, whose technology powers Beeline’s chatbot, Bob, which the company said has contributed to an 8% increase in lead-to-lock conversions at no incremental cost.
Beeline said the proposed acquisition is expected to expand its artificial intelligence capabilities and support its blockchain and digital asset initiatives, including BeelineEquity, its tokenized home equity product developed in partnership with TYTL. The contemplated all-stock transaction would make MagicBlocks a wholly owned subsidiary of Beeline and is expected to close in June, subject to definitive agreements, approvals and other customary conditions.
To view the full press release, visit https://ibn.fm/qdBX1
About Beeline Holdings
Beeline is a technology-forward mortgage and fintech platform focused on AI-powered lending, title services, blockchain-enabled financial infrastructure, and digital real estate solutions. The Company is developing next-generation mortgage and home equity products designed to modernize the residential finance market.
About MagicBlocks
MagicBlocks develops blockchain infrastructure, AI automation systems, and smart contract technologies focused on real estate, financial services, and digital asset applications.
NOTE TO INVESTORS: The latest news and updates relating to BLNE are available in the company’s newsroom at https://ibn.fm/BLNE
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