Alpharetta, Ga.-based ChoicePoint has acquired Danville, Calif.-based Insuratec Inc., a provider of lien holder and mortgagee notification services to the property and casualty insurance industry. Insuratec notifies automobile finance companies and mortgage lenders, on behalf of insurance clients, of material changes to insurance policies. Terms of the acquisition were not disclosed.
The Insuratec acquisition expands ChoicePoint’s Financial Institution Reporting System (FIRSt) service, created earlier this year with the acquisition of ELIOS Inc. FIRSt, with more than 100 customers, is part of ChoicePoint’s portfolio of Insurance Verification Services.
The transaction is not expected to have a material impact on ChoicePoint’s financial results. The company does not expect the acquisition to be dilutive to earnings.
Source: ChoicePoint
Topics Mergers & Acquisitions
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