Fidelity National Financial acquires SoftPro from LPS
January 20, 2012
JACKSONVILLE, Fla. - Some things are just meant to be: The nation's largest title insurance underwriter once again owns the nation's largest title production software provider.
Over the last 60-plus days, talks heated up between Fidelity National Financial Corp. and Lender Processing Services Inc. to bring SoftPro back to FNF. Representatives from SoftPro and Fidelity National Financial reached out to The Title Report this week to confirm that this latest deal is complete.
John Crowley, CIO for FNF states that "We became aware that LPS was exploring strategic options for the asset, so we threw our hat into the ring. FNF has over 3,000 SoftPro users, and a large number of our agents utilize the product. Our principal focus now is to provide the team at SoftPro an opportunity to continue serving FNF and their other customers in the fashion to which we had become accustomed."
"FNF's core competency matches up with our products and services, so from a strategic perspective this deal makes perfect sense. We are excited to be a part of FNF's family of companies." said Joyce Weiland, president of SoftPro.
The two companies are clearly not strangers, and that familiarity should allow SoftPro to make a smooth transition to FNF and immediately start to work on new initiatives. First, the company stressed the value of this move for its entire portfolio of agents.
As part of this transaction, our main focus is to continue to serve our current customers and maintain the level of service they're accustomed to," Weiland said. "Nothing will change from that perspective."
"This is a huge opportunity to leverage both of our distribution channels, but our goal is to meet the needs of the independent title operations," Tim Conley SVP of Sales and Marketing said. "It's my job to ensure we service the independent agents and make sure all of their needs are addressed with our development initiatives..
"Fidelity National Financial has lead the industry in market share and operational efficiency for years, and being able to leverage these resources will only benefits all SoftPro customers. Weiland said.
"We also have the largest footprint within all of the various underwriter's agents and are using our SoftPro 360 platform to deliver the products and services they need — and none of those initiatives are going to change," Conley said..."
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