RISMEDIA, August 7, 2008-Fidelity National Financial, Inc., a provider of title insurance, specialty insurance, claims management services and information services, announced the acquisition of all of the state of Colorado title insurance operations of the Mercury Companies, Inc.The acquired operations, which include Security Title, First American Heritage Title, Title America and United Title, generated approximately a 30% market share during 2007 and have a history in the state of Colorado dating back to the 1940’s. The acquisition also includes the Impact title operating system that these operations utilize.
“We are very excited to have the opportunity to acquire such a significant and well-established group of companies in the state of Colorado,” said FNF Chairman William P. Foley, II. “Our financial strength and ability to allocate capital during difficult market conditions allow us to make this strategic acquisition that we expect to generate significant future value for our shareholders.”
“I am happy to announce the acquisition of our Colorado operations by FNF,” said Jerry Hauptman, chairman and CEO of Mercury Companies, Inc. “FNF is an exceptionally strong, stable and well-run title company. Its financial strength and operational acumen will allow our Colorado operations to continue to provide the service and performance that our customers have come to expect for so many years. We are thrilled to become a part of the FNF family.”
“This is a significant market opportunity for FNF,” said FNF President Raymond R. Quirk. “With the acquisition of these Colorado operations, we have become the market share leader in the state of Colorado. The Impact title operating system is also a great component of the acquisition, as these companies have effectively utilized that system for a number of years. We welcome Security Title, First American Heritage Title, Title America and United Title and all of their employees into the FNF family and we are confident that our combined commitment to leading the title industry in customer service, technology and financial strength will lead to a successful long-term partnership that will set the standard for title insurers in the state of Colorado.”
For more information, visit http://www.fnf.com.