|
Target Information |
| Target: |
Sollen
Technologies |
| City: |
Dallas |
State: TX
|
| Type of Company: |
Mortgage
Software Solutions |
| Financial Data As Of: |
n/a |
Revenue: n/a |
Net Income: n/a |
| Target’s Business: |
Sollen Technologies is a leading provider of
innovative software solutions that enable real-time delivery of mortgage
loan product and pricing information for US mortgage lenders. Earlier
this year, Sollen Technologies was a named a Top 100 mortgage technology
vendor by Mortgage Technology magazine. The company provides a set of
tools that allow for complete automation of loan searching, product
validation, loan-level pricing and locking on the Web or the desktop.
|
|
Acquirer Information |
| Acquirer Name: |
Titan Investment
Partners LLC |
| City: |
San Diego |
State: CA
|
| Type of Company: |
Asset Management
and Financial Advisory |
| Financial Data As Of: |
n/a |
Assets Under
Management: $2.3 Billion |
|
| Acquirer’s Business |
Titan Investment Partners is the managing owner of
Del Mar Database, Inc., a leading provider of mortgage technology
services to over 230 lenders in the United States. Titan Investment
Partners is a member of the Relational Group, an asset management and
financial advisory firm with in excess of $2.3 billion under management.
|
|
Transaction Information |
| Status: |
Pending |
| Announcement
Date: |
October 21, 2003 |
Accounting:
Asset Purchase |
| Completion Date: |
November 2003 |
Consideration:
n/a |
| Comments: |
Jeb S. Spencer, the Managing Director of Titan
Investment Partners, stated: "This acquisition is further demonstration
of our plan to both acquire and fund companies who are recognized
leaders in the mortgage technology industry. After speaking with
Sollen's loyal customers, we determined that the company clearly met our
investment profile. We are excited about the synergies that will result
from the addition of Sollen to our growing list of portfolio companies."
Details of the deal were not disclosed, but Titan said it expects the
deal to close within the next few weeks. |
