Wolters Kluwer Sub Acquires Flood Determination Business From Stewart
Wolters Kluwer Financial Services announced Friday that the company has signed an agreement to acquire substantially all of the assets of Stewart Lender Services' flood determination business. The acquisition is expected to close in the first quarter of 2008, Wolters Kluwer said, and terms of the agreement were not made available. Based in Houston and a subsidiary of Stewart Title Company, Stewart's flood determination division offers industry-leading solutions including basic certification, basic plus life of loan, portfolio review and commercial flood determinations. Both companies flood determination solutions offer substantially similar services; neither company commented on whether the purchase would lead to personnel restructuring. Stewart's move to divest comes as Stewart Lender Services CEO Don O'Niell said the company intends to "focus on its core lender service offerings." For more information, visit http://www.wolterskluwerfs.com.