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First American Announces Completion Of Servicemac Acquisition

Oct 25, 2021•about 4 years ago

Acquiring Company

First American

Acquired Company

ServiceMac

Santa AnaBankingReal EstateFinancial Services

Description

First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, announced today the completion of First American’s acquisition of ServiceMac, LLC, an innovative mortgage subservicing company.

Company Information

Company

First American

Location

Santa Ana, California, United States

About

First American Financial Corporation is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 130 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed