First American Financial CorporationFAF recently entered into an agreement to acquire RedVision Systems, Inc. The buyout will enable the property and casualty (P&C) insurer to further expand its industry leading position in title and property data.
Headquartered in New Jersey, RedVision Systems is the largest independent national provider of title and property research. The company provides title evidence solutions, which includes data, technology and managed services pertaining to the procurement and processing of title information. RedVision Systems has made a name for itself through its proprietary technology, which comprises of its production platforms - TitleVision and Nova. These platforms provide clients a customizable and scalable solution for title research and production.
RedVision Systems' data, technology and services will be a substantial addition to First American's already strong title search and title evidence production. The combination of the acquired company's nationwide title production platform and the acquirer's title and property data, along with billions of recorded documents will offer unparalleled quality, coverage and operational flexibility to consumers.
First American's Data Trace group will be able to leverage RedVision data in developing additional title plants much more swiftly and efficiently. The acquired company will be part of the P&C insurer's Data and Mortgage Solutions division, and will operate as a business unit under First American.
First American has been boosting its inorganic growth profile through various strategic acquisitions. On Apr 1, 2016, the P&C insurer's subsidiary, First American Mortgage Solutions, LLC, purchased Forsythe Appraisals, LLC. This acquisition should support First American Mortgage to help lenders and appraisers in the delivery of a defect-free mortgage and in turn, render terrific customer experience.
FIRST AMER FINL Price
Acquisitions are a well-accepted strategy for growth among insurers. On Aug 15, Arch Capital Group Ltd. ACGL announced its decision to acquire United Guaranty Corporation and AIG United Guaranty Insurance Limited from the parent company, American International Group, Inc. AIG .
On Aug 4, 2016, financial transaction service provider FleetCor Technologies, Inc. FLT acquired Travelcard Nederland B.V. from LeasePlan Corporation N.V. for an undisclosed amount.
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