First American Financial Corporation [1], a California-based global provider of title insurance, settlement services, and risk solutions for real estate transactions, announced on Tuesday it has signed an agreement to acquire New Jersey-based RedVision Systems, Inc [2]., the largest independent national provider of title and real property research.
RedVision’s offerings include title evidence solutions, which include data, technology, and managed services focused on the procurement and processing of title information. RedVision’s proprietary technology has earned the company recognition throughout the industry—technology that includes TitleVision (the company’s production platform) and Nova, offering a customizable and scalable solution for title and research production.
“We’re excited to soon welcome RedVision to the First American family of companies,” said George Livermore, executive vice president of First American’s Data and Mortgage Solutions division, which will include RedVision. “RedVision’s data, technology and services complement First American’s existing title search and title evidence production and will further expand First American’s industry-leading position in title and property data. 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.”
With the acquisition, First American’s Data Trace group will now be able to leverage RedVision’s data to build additional title plants quickly and efficiently. Also, RedVision will become part of First American’s Data and Mortgage Solutions Division and will operate under the RedVision brand. RedVision’s management team, led by CEO Brian Twibell, will continue to lead the business.
“We’re delighted with the opportunity to combine our technology, services and expertise with those of First American, a company known for its integrity, innovation and leadership in the title and settlement services industry,” 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.”