Stewart Information Services Corp. is acquiring Informative Research (IR), a credit, consumer and real estate data and technology services provider. IR serves more than 3,000 customers across the U.S.
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.
“Stewart continues to invest in the creation of an end-to-end, customer-focused real estate services and technology platform,” says Fred Eppinger, Stewart’s 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,” states Sean Buckner, Informative Research’s president and CEO. “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. 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.”
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.