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Industry News

Data Trace Acquires New Jersey Tax Research Firm

July 2, 2002

Establishes Foundation for Northeast Operations

ANAHEIM, Calif., /PRNewswire-FirstCall/ -- Data Trace LLC, a major  provider of title plant services, has acquired Current Status, Inc., New Jersey's largest provider of property tax research and information, from its owner Elizabeth Czernek. Terms of the acquisition, which closed on June 28, 2002, were not disclosed.

"The acquisition of Current Status is a very important strategic step in our continued expansion of the Data Trace system," said Michael T. Henney, Data Trace president. "Current Status will provide our company with the proper foundation to establish a Northeast regional operation, which will enable us to complete our nationwide coverage of title and tax information databases."

Tax research services are complementary to title plant services, as both operations require similar infrastructure and marketing abilities. Data Trace has successfully demonstrated its ability to cross-sell these paired services to customers in other regions and has plans to develop historical title information databases within the major counties that Current Status services.

Amy Holder and Fred Burnett, who held senior officer positions with Current Status, will remain with the firm as co-presidents, reporting to Henney. The company will continue to operate from its Kenilworth, N.J. headquarters.

Source: Data Trace LLC

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