Chronos Solutions, a real estate financial services provider, announced on Wednesday that it has acquired Commerce Title and Closing Services from its parent company, Ten-X, formerly known as Auction.com.
The new acquisition expands Chronos Solutions’ title and settlement services offerings, along with increasing the company’s presence in California.
“Commerce Title is fully licensed to perform title work throughout California, making it a natural fit for Chronos Solutions,” said Chronos Solutions CEO Matt Martin.
“With this acquisition, we deepen the resources we can offer to our clients, as well as becoming even more flexible to our clients’ needs," Martin continued. "Commerce Title’s historical emphasis on client service, innovation and flexibility align perfectly with the Chronos strategy and business model, and we believe our customers will appreciate the additional resources we will now be able to make available to them on the title and settlement services side of the transaction."
This is the third acquisition for Chronos Solutions since early 2015, most recently acquiring Cogent Road, a credit, verification and origination technology-based business, in December 2015.
At the beginning of 2015, Chronos acquired Realtybid.com, an online real estate auction marketplace.
“Our acquisitions are carefully selected to complement our unique approach to real estate finance services,” Martin said. “Our ability to deliver multiple service offerings and scale to meet the needs of a business of any size are what have led to our success. The acquisition of Commerce Title will only strengthen the depth and breadth of our suite of services.”