First American Financial has agreed to acquire New Jersey-based title insurance research firm, RedVision Systems, for an undisclosed sum.
RedVision provides title evidence solutions, including data, technology and managed services focused on the procurement and processing of title information.
The acquisition will enable First American’s Data Trace group to make maximum use of RedVision data to quickly and efficiently build additional title plants.
First American will integarte RedVision into its data and mortgage solutions division.
RedVision will operate as a business unit under its brand and its management team, with CEO Brian Twibell will continue to lead the business.
Twibell said: “RedVision’s platform, now powered by industry-leading title and property data, will offer title evidence and packaged title reports with enhanced quality, accuracy and efficiency.
“Our employees will also benefit by being part of a company recognized in 2016 by Fortune magazine as one of the 100 best companies to work for in America.”
First American Data and Mortgage Solutions division executive vice president George Livermore reiterated that RedVision’s data, technology as well as its services complement First American’s current title search and title evidence production while further expanding First American’s industry position in title and property data.
Livermore also added: “RedVision’s nationwide title production platform, coupled with First American’s title and property data, and billions of recorded documents, will offer our customers unmatched quality, coverage and operational flexibility.”
Headquartered in Santa Ana, California, First American is a global provider of title insurance, settlement services and risk solutions for real estate transactions.
Image: Entrance to the First American Corporation headquarters complex in Santa Ana. Photo courtesy of Coolcaesar at en.wikipedia.