First American Financial Services has reached an agreement to acquire RedVision Systems, one of the largest independent providers of title and property research nationwide.
Under the deal, RedVision will become part of First American's Data and Mortgage Solutions division. It will continue to operate under its current name and with the same management team, including current chief executive Brian Twibell who will still lead the business.
Financial terms of the deal were not disclosed in Tuesday's announcement.
The merger will improve the capabilities of First American's Data Trace group in building additional title plants. Title plants are used in some parts of the country instead of going to the courthouse to do property record searches.
"RedVision's data, technology and services complement First American's existing title search and title evidence production and will further expand First American's industry-leading position in title and property data," George Livermore, executive vice president of First American's Data and Mortgage Solutions division, said in a news release.
RedVision's products and services include its production platform, TitleVision, and the title research and production service Nova.
