(Reuters) - Real estate information provider CoStar Group said on Monday it would buy 3D virtual tour creator Matterport in a cash-and-stock deal valued at $1.6 billion.

The deal implies a per-share value of $5.50.

Sunnyvale, California-based Matterport, which was founded in 2011, collects spatial data to convert physical spaces into photorealistic digital twins.

CoStar said the deal is expected to be completed in the year.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Krishna Chandra Eluri)