Mercury Network, a provider of valuation technology to mortgage lenders and appraisal management companies (AMCs), has acquired Appraisal Scope Inc., a provider of valuation management software, for an undisclosed sum.
Based in Baltimore, Appraisal Scope is a provider of valuation management software for appraisers, BPO providers, AMCs and mortgage lenders.
Founded in 2011, the company’s technology is integrated with more than 40 industry vendors.
In a release, Will Clemens, CEO of Mercury Network, says the “acquisition of Appraisal Scope, combined with our expanded investments in R&D, allows us to offer lenders and AMCs of all sizes the most innovative collateral valuation tools from a single provider.”
Jennifer Miller, president of Mercury Network, adds, “With this acquisition, the combined companies now have more than 45 staff members dedicated to product development and IT. Both platforms, Mercury Network and Appraisal Scope, will continue to be offered, and we plan to continue our investment into both.”
Jordan Rothstein, founder of Appraisal Scope, says the two companies are aligned in terms of culture and mission.
“The combination of the two companies will allow Appraisal Scope customers to benefit from Mercury’s greater scale and infrastructure,” Rothstein says. “We will thrive and continue to grow and innovate as part of Mercury.”
Last August, Mercury Network acquired Platinum Data Solutions, which offers valuation data and analytics solutions, for an undisclosed sum.