In the Money

Silver Lake acquiring $500 million stake in Credit Karma

Acquisition values Credit Karma at $4 billion
Silver Lake, a private equity firm that led a $500 million round of funding online lender SoFi last year, is increasing its interest in the personal finance space by acquiring a “significant minority stake” in Credit Karma, the personal finance company. Specifically, Silver Lake plans to invest $500 million in Credit Karma in a deal that values the company at $4 billion.
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Radian buys direct-to-consumer title insurer Entitle Direct

Entitle Direct operates in 39 states, plus D.C.
Over the last few months, Radian Group has restructured its mortgage and real estate services business, which is conducted through its principal subsidiary Clayton Holdings, and Clayton’s subsidiaries: Green River Capital, Red Bell Real Estate, and ValuAmerica. Now, Radian is making another change in its services business by acquiring Entitle Direct Group, a title insurance and settlement services company that specializes in selling title insurance directly to consumers.
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Class Appraisal acquired by Narrow Gauge Capital

Valuations and appraisal management solutions provider acquired by private equity firm
Private equity firm Narrow Gauge Capital announced it has acquired Class Appraisal, a valuations and appraisal management solutions provider. “We have made great progress over the past several years and are excited to work with Narrow Gauge to enhance our market-leading position,” said Jon Tallinger, Class Appraisal's vice president of sales and marketing.
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Flat-fee real estate agency Purplebricks secures $177 million investment to fund U.S. growth

Sells 11.5% of company to European media giant Axel Springer
Flat-fee real estate agency Purplebricks expanded into the U.S. last year after building a successful business in the United Kingdom and Australia, and after securing a sizable investment from European media giant Axel Springer, Purplebricks’ U.S. expansion is about to shift into overdrive.
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Private equity firms buying real estate data and software provider EDR for $205 million

Silver Lake and Battery Ventures buying company
Two prominent private equity firms are buying EDR, a provider of real estate data and software-as-a-service, for $205 million, the companies announced earlier this week. The buyers for EDR, which provides property due-diligence and risk management technology and information, are Silver Lake and Battery Ventures.
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Amrock ordered to pay $706 million for stealing trade secrets from HouseCanary

Texas jury rules that Quicken Loans affiliate misappropriated HouseCanary data
Amrock, the title insurance, settlement services, and valuations provider formerly known as Title Source, “willfully and maliciously” stole trade secrets from HouseCanary and must pay more than $706 million for the theft, a Texas jury ruled recently. Amrock calls the jury's decision “unconscionable” and promises to fight it.
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Short-term financing option charts return to mortgage lending

S&P: ABCP will remain relevant for years to come
Raise your hand if you lived through the Great Recession. Now keep your hand raised if you can define Asset-Backed Commercial Paper. If you put your hand down, then truth be told, you didn’t really live through the Great Recession. You may have survived it, but to have lived it, is to know what caused it.
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Qualia raises $33 million to improve home closing process

Funding round led by Silicon Valley’s Menlo Ventures
Qualia, a real estate technology company that focuses on the home closing process, announced this week that it raised $33 million in its latest funding round. Qualia has grown significantly since its founding in 2015, and now handles 5% of the national real estate market. The company said that expects the new funding to aid in its continued growth.
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