Santa Ana-based First American Financial Corp. said that its title subsidiary bought TitleVest Holdings Group LLC in New York City on undisclosed terms.
The acquisition by First American Title Insurance Co. expands its reach in the New York market.
Trade news website Inman.com reported that the deal also brings First American Financial proprietary technology from TitleVest, including an online calculator that itemizes closing costs for any real estate transaction, printable legal and tax forms, and a library of 5,000 condominium and co-op apartment offerings.
TitleVest is about 15 years old and had provided services to First American for some time.
The company’s chief executive will retire after the acquisition while its chief operating officer will stay on, First American Financial said in its statement.