Stewart Information Services Corporation today announced the signing of an agreement to acquire Informative Research, a leader in providing credit, consumer, and real estate data and technology services. IR serves more than 3,000 customers across the United States and offers a wide range of mission critical solutions through its proprietary platform to streamline the loan cycle, according to a presser from Stewart.
"Stewart continues to invest in the creation of an end-to-end, customer-focused real estate services and technology platform,” said Fred Eppinger, Stewart CEO. “By bringing IR into the Stewart family of companies, we further reflect that commitment and advance our data and analytics capabilities. I’m excited about the possibilities our service platform offers as we add IR to Cloudvirga, Signature Closers, and NotaryCam as well as our existing appraisal and title capabilities to provide customers with superior performance and ease of use across the transaction lifecycle."
"Joining the Stewart family accelerates our ability to develop and bring to market additional products and services that will better serve the lending and real estate industry. We’re excited to be able to help drive the creation of a holistic loan and real estate analytical service and closing process at Stewart," said Sean Buckner, Informative Research President and CEO. "Through our technology suite, IR allows customers to improve sales and profits while reducing risk, which makes it a perfect fit with Stewart. We look forward to a bright future as we help our customers drive performance and succeed."
The purchase price is $192 million and will be funded with available company resources. The transaction is expected to close following the appropriate regulatory review and will be immediately accretive to Stewart’s earnings. IR will continue operating as a standalone company. Locke Lord LLP is serving as legal advisor to Stewart. Marlin & Associates is serving as exclusive strategic and financial advisor to IR and Wyrick Robbins Yates & Ponton LLP as its legal advisor.