Real Estate Information Company Acquires Title Agency
|September 11, 2012|
DataQuick, a provider of real estate information solutions powered by data, analytics and decisioning, has signed a purchase agreement to acquire the ATI Title Companies, dba Rels Title, which is currently a subsidiary of Rels Title Services LLC.
“DataQuick has a long and outstanding history of delivering centralized title services to the lending community,” said John Walsh, president of DataQuick. “Combining our expertise with Rels Title’s exceptional service capabilities, local presence and relationships, operational expertise and industry knowledge will allow us to provide a wider range of title and settlement services to the marketplace.”
Rels Title offers nationwide escrow, title examinations, commitment and closing services; document preparation and recording services; and expedited ordering, processing and delivery.
As part of the acquisition, the Rels Title name will be used for a period of time. The current Rels Title management team, headed by Leslie Foster, will continue to lead operations, which will remain headquartered in Minnetonka, Minn.
“DataQuick delivers a wide range of real estate information solutions to their customers,” said Foster, president of Rels Title. “We are confident that our customers will not only continue to receive the same great service they have become accustomed to, but they will also benefit tremendously from the breadth of complementary solutions available from DataQuick. In addition, we look forward to offering title and closing services to lenders that are currently customers of DataQuick.”
The transaction is expected to close within 30 days. Milestone Advisors, LLC, served as financial advisor to Rels Title Services for the transaction.