First American Acquires NAZCA Solutions, Inc.
—Purchase of Minnesota-based Company Accelerates First American’s Plan to Geographically Expand Title Plant Assets—
November 2, 2010, SANTA ANA, Calif.
First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance and settlement services for real estate transactions, today announced the acquisition of NAZCA Solutions, Inc., a Minnesota-based company founded in 2003 that leverages Web technology to aggregate disparate property datasets from multiple internal and external sources.
With the acquisition of NAZCA, First American will increase its ability to access and assemble property-related information, such as ownership, mortgage and tax data from unrelated databases in real time. The NAZCA brand will remain intact and will become part of First American’s Database Services Group, which also includes Data Trace and Data Tree.
“NAZCA has developed technology that is unique in this market,” said Robert Karraa, head of First American Financial Corporation’s Database Services Group. “Their ability to expand into new markets is unsurpassed and we are eager to leverage this as part of our overall growth plan.”
The technology acquired in the NAZCA transaction allows First American to accelerate its plan to rapidly expand title plants geographically. NAZCA will continue to market its two core products: NAZCA Online and Managed Services. NAZCA Online offers advanced search mechanisms to allow the user to gather property search data from the NAZCA browser-based platform. NAZCA Managed Services includes complete property reports, legal and vesting and custom data solutions compiled and reviewed by experienced examiners.
“The acquisition of NAZCA is a strategic move for First American that augments our overall data strategy,” said Chris Leavell, executive vice president of First AmericanTitle Insurance Company. “We look forward to leveraging the expertise of the NAZCA leadership team to accelerate our geographic, product and market expansion and to serve the settlement services industry with new and innovative products.”
“Our customers constantly seek out ways to improve efficiencies,” said Dennis Gilmore, CEO of First American Financial Corporation. “As such, this acquisition will enhance our ability to quickly develop and deliver progressive data solutions to our customers.”
About First American
First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance and settlement services to the real estate and mortgage industries, that traces its heritage back to 1889. First American and its affiliated companies also provide title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; and banking, trust and investment advisory services. With revenues of $4 billion in 2009, the company offers its products and services directly and through its agents and partners in all 50 states and in more than 60 countries. More information about the company can be found at www.firstam.com.