Last year, Mercury Network, an appraisal management system, announced plans to expand by acquiring Platinum Data Solutions, a QC technology company.
And it turns out that the company is not done growing.
Mercury Network, a winner of HousingWire Magazines 2017 HW Tech100, announced this week that it is acquiring Appraisal Scope, a provider of valuation management software.
According to a release from Mercury Network, the acquisition combines “two of the leading software platforms” for valuation management for lenders and Appraisal Management Companies.
Jennifer Miller, president of Mercury Network, said that both Mercury Network and Appraisal Scope will continue to be offered and operate independently. Miller added that the companies will “integrate the infrastructure and support for all products to best serve the combined customer base.”
Will Clemens, CEO of Mercury Network, said that the deal makes sense for all sides.
“The nation’s growing housing economy depends on efficient, accurate valuation operations,” Clemens said. “The acquisition of Appraisal Scope, and our expanded investments in R&D, will give all those in the mortgage lending industry, regardless of size, easy access to the most innovative collateral valuation tools from a single provider.”
And Jordan Rothstein, founder of Appraisal Scope, said that the deal will allow the company to continue growing.
“We feel great alignment with Mercury’s culture and mission,” Rothstein said. “The combination of the two companies will allow Appraisal Scope customers to benefit from Mercury’s greater scale and infrastructure. We will thrive and continue to grow and innovate as part of Mercury.”
Financial terms of the acquisition were not disclosed.