Acquisition is a key step to Stewart’s digital strategy in creating a seamless end-to-end experience
Stewart Information Services Corporation (NYSE:STC), announced today its acquisition of Cloudvirga, a leading fintech company powering digital mortgages, adding an industry-leading customer engagement technology platform to the Stewart family. The addition of Cloudvirga strengthens Stewart’s positioning in the mortgage finance space and further enables Stewart’s ability to serve customers in all markets.
“By bringing Cloudvirga’s capabilities and solutions to the Stewart family, we further demonstrate our commitment to creating an industry-leading platform for customers to drive ease-of-use throughout the real estate transaction,” said Stewart CEO Fred Eppinger. “Combined with our newly acquired capabilities such as RON, a notary network and valuation services, Cloudvirga’s platform will accelerate our digital offerings in all markets, complement our existing capabilities and enhance our ability to provide customers with end-to-end mortgage services and solutions.”
Founded by industry experts in 2016, Cloudvirga is a customer engagement platform and digital origination platform that powers Lenders, Originators and Brokers while also automating back office tasks. Several of the largest lenders in the country rely on Cloudvirga as their digital front-end solution.
“We are excited about the opportunity to join Stewart at this important time in our industry,” said Kyle Kamrooz, Co-Founder & CEO, Cloudvirga. “Having the backing of an industry leader like Stewart will allow us to increase value to our customers as we streamline and accelerate the origination process.”
Houlihan Lokey acted as exclusive financial advisor to Cloudvirga in this transaction.
About Stewart
Stewart (NYSE-STC) is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage industry, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we are dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual success. Learn more at stewart.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210525005068/en/
Contacts
John Chattaway, Stewart Media Relations
(713) 625-8180; mediarelations@stewart.com
