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Thursday, Mar 28, 2024
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First American Makes Non-Title Buys

Santa Ana-based title insurer First American Corp. announced Tuesday its second small acquisition in as many days.

The company boosted its non-title insurance operations by picking up Faxxon Legal Information Services Inc. on Tuesday. Faxxon is a privately held search and filing company based in Springfield, Ill.

Terms of the deal weren’t disclosed.

Bill Stokes, founder and president of Faxxon, will remain with the company and manage its operations under First American.

On Monday, First American said it bought privately held Offutt Systems Inc., a Greensboro, N.C.-based provider of multiple listing real estate services. Terms of that deal were not disclosed.

Offutt will become a division of its First American MLS Inc., which provides listing services to real estate companies. The company has about 600,000 users, including Offutt’s 80,000 clients.

The Offutt deal extends First American’s reach into a market it hasn’t traditionally served, said Stephen Roney, president and chief executive of First American Residential Group.

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Mark Mueller
Mark Mueller
Mark is the Editor-in-Chief of the Orange County Business Journal, one of the premier regional business newspapers in the country. He’s the fifth person to hold the editor’s position in the paper’s long history. He oversees a staff of about 15 people. The OCBJ is considered a must-read for area business executives. The print edition of the paper is the primary source of local news for most of the Business Journal’s subscribers, which includes most of OC’s major corporate and community players. Mark’s been with the paper since 2005, and long served as the real estate reporter for the paper, breaking hundreds of commercial and residential real estate stories. He took on the editor’s position in 2018.
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