American Land Title Association
Print Friendly
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

Industry News

Fidelity National Financial Announces Acquisition of Majority Stake in Kordoba GmbH & Co. KG

August 27, 2004

Jacksonville, Fla. -- Fidelity National Financial, Inc. (NYSE:FNF)has enetered into a definitive agreement to acquire a 74.9 percent interest in Kordoba GmbH & Co. KG ("Kordoba"), a provider of core processing software and outsourcing solutions to the German banking market, from Siemens Business Services GmbH & Co. OHG ("Siemens Business Services"). Siemens Business Services will retain a 25.1 percent ownership position in Kordoba. The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close by September 30, 2004.

Formed in 1979 and established as separate legal entity by its founder Siemens Business Services in 1998, Kordoba is an information technology solutions provider for the financial services industry, with a focus on services and solutions for the banking market. It provides both outsourced and in-house core banking solutions to German savings and commercial banks, including core transaction processing, ATM network solutions, accounting and reporting solutions and a securities processing system. For its fiscal year ended September 30, 2003, Kordoba generated revenue of €85.7 million (approximately $105 million at current exchange rates) and EBIT of €23.8 million (approximately $29 million at current exchange rates).

"Kordoba is a well-known and respected provider of core banking solutions to the German retail bank market," said FNF Chairman and Chief Executive Officer William P. Foley, II. "This acquisition positions FNF to benefit from the growth opportunity in the German core processing market and provides FNF a significant foundation in this key European economy to assist in the realization of our overall expansion plans throughout Europe. Kordoba is in the process of updating and enhancing its existing system architecture and will benefit from our years of experience developing software products that support some of the largest financial institutions in the world."

"With more than 300 employees, Kordoba is one of the largest banking specific technology companies in Germany and it brings the scale needed to support banks of all sizes as they transform to next generation technology infrastructures," said Michael Sanchez, Chairman of Fidelity Information Services' International Division. "Siemens Business Services' continued ownership position will help ensure continuity with our joint customers, and this partnership creates a formidable combination of products and services capabilities for future clients looking for a low-risk solution to technology transformation."

Fidelity National Financial, Inc.

Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2016 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment