Stewart announces the merger of Stewart Transaction Solutions and PropertyInfo Corp.
HOUSTON (Sept. 13, 2007) – Stewart Information Services Corp. (NYSE-STC) plans to merge its two related technology subsidiaries, Stewart Transaction Solutions and PropertyInfo Corp. Stewart expects the merger to be completed by Jan. 1, 2008.
The combined entity, PropertyInfo Corporation, a Stewart company, will intensify its focus on developing, selling, deploying and supporting Stewart title production technologies for independent title agencies and affiliates as well as real estate information and transaction management for internal and external markets including the title industry real estate professionals, builders, developers, lenders and consumers.
“We now provide all the integrated technology that a title office needs to do business available through the ‘Net as well as critical and useful real estate information for real-estate interested businesses and individuals.” said Stewart Morris Jr., president and co-chief executive officer of Stewart Information Services Corp. and chairman of PropertyInfo Corp. “This combination coordinates the development and delivery of these products.”
Stewart previously brought together in PropertyInfo Corp. the real estate information subsidiaries REIData Inc., First Data Systems and Ultima Corp. in January 2007. The reorganization will add to the same entity product development, sales, training and support expertise of Stewart Transaction Solutions.
“At PropertyInfo Corp. we innovate, integrate and implement technologies to further enhance the real estate transaction process,” said Pat Vaden, president and CEO, PropertyInfo Corp. “By combining Stewart Transaction Solutions and PropertyInfo, we are able to leverage the strengths of our two different but related development, sales, training and support groups to better serve our customers.”
Within the organization’s new vision to become a trusted technology leader for every step in the real estate transaction process, Vaden said PropertyInfo Corporation’s commitment is to:
- Successfully build, deploy and support Stewart’s premier real estate technology solutions
- Maintain reliable and secure systems
- Deliver “Five-Diamond™” service – creating an exceptional customer experience with every encounter, providing above-and-beyond customer service and support, and exceeding the customer’s expectation while being the customer’s advocate, champion and innovator
“At PropertyInfo, we recognize the demands placed on businesses,” added Vaden. “We understand the commitment to adopt technology is one of the most important decisions contributing to a company’s success. Our team of highly qualified professionals is committed to deploying the technology needed to streamline business processes providing customers with exceptional Five-Diamond customer service.”
More information on PropertyInfo Corp. can be found at www.propertyinfo.com/.
Stewart Information Services Corp. is a customer-driven, technology-enabled, strategically competitive, real estate information, title insurance and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries through more than 9,500 policy-issuing offices and agencies in the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at www.stewart.com/.