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Servicing / The Ticker

Altisource Portfolio Solutions acquires Equator

Servicing solutions firm to pay $70M for the platform

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Altisource Portfolio Solutions (ASPS), a provider of servicing tools, says one of its subsidiaries agreed to acquire Equator, a mortgage and real-estate related SaaS solutions provider.

The acquisition is valued at a base price of $70 million, with the closing expected to occur within 30 days.

William Shepro, CEO of Altisource, said, "The acquisition expands our marquee client list and provides our customers with one of the most comprehensive real estate lifecycle management platforms and services marketplaces available.”

“Equator will join the Altisource family of businesses and operate within our Technology Services segment,” Shepro explained.

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