First American Acquires Remaining Interest in Data Tree Corporation
July 13, 2000, SANTA ANA, Calif.
"The acquisition of the remaining interest in Data Tree, the nation's largest repository of imaged title documents with its database of more than 600 million records, allows us to fully devote our management to the operation of the company, and is part of our ongoing strategy of building our national databases of property information to serve the title industry nationwide," said Dennis Gilmore, president of First American's Database Products and Services Group.
Data Tree's primary product, Titlescape®, is a subscription-based, Windows-compliant software package that combines access to online historical databases of imaged recorded title documents with integration software that enables customers to combine their processing applications into one system.
Founded in 1988 and headquartered in San Diego, Calif., Data Tree provides database management and document imaging systems to the title industry, county recorders and government agencies. The first in the nation to offer electronic recording, the company currently owns the country's largest database of imaged records.
The First American Corporation, based in Santa Ana, Calif., is the nation's leading provider of business information and related products and services. The corporation's three primary business segments include: title insurance and services; real estate information and services, which includes mortgage information services and database information services; and consumer information and services, which provides home warranties; automotive, subprime and direct-to-consumer credit reporting; property and casualty insurance; property and automotive insurance tracking services; resident screening; pre-employment screening; investment advisory; and trust and banking services. Information about the company and an archive of its press releases can be found on the Internet at www.firstam.com.