First American Acquires Maryland Management Systems, Inc.
|January 17, 2006|
New Management Tool Offered to Real Estate Associations and MLSs
ANTA ANA, Calif., /PRNewswire-FirstCall/ -- First American MLS Solutions, Inc., a division of First American Residential Group, Inc., and a leading multiple listing service (MLS) software provider, has acquired Maryland Management Systems, Inc. (MMSI), a premier provider of management software to Realtor® associations in North America. Terms of the transaction, which closed Jan. 3, 2006, were not disclosed.
First American will integrate MMSI's The Director association management software with its MLXchange(TM) and TEMPO(TM) MLS products that currently serve nearly half of all real estate professionals throughout the United States and Canada, and will offer The Director to non-client real estate associations in addition to those currently using MLXchange and TEMPO. The Director streamlines the operations of real estate associations with comprehensive management tools that include automated billing, accounts receivable, full accounting functionality, and detailed information on committee meetings and class schedules. MMSI has approximately 100 installed sites throughout North America.
"Our goal is to create new efficiencies for the real estate professional by tightly integrating The Director with our current programs and Realtor association systems," said Bryan Foreman, president of First American MLS Solutions. "The addition of MMSI is another step in First American's strategy to create a truly comprehensive system that reduces the cost and time associated with residential real estate transactions."
MMSI, which will continue to be managed by founder Rich Richburg, will be an operating unit of First American MLS Solutions. MMSI will maintain its headquarters near Annapolis, Md.
"Our team has worked hard to grow and mature The Director technology and MMSI's business model," said Richburg. "First American is a logical fit for our product, and both MMSI's and First American MLS Solutions' customers will benefit from the fully integrated and customizable real estate association management system we now offer."
"First American is committed to providing enterprise solutions for our MLS customers and their member brokers and agents," said Stephen C. Roney, president and chief executive officer of First American Residential Group. "MMSI's leading-edge technology and dedicated staff will readily complement our existing services in the MLS market and help further distinguish First American from our competition."
Source: First American MLS Solutions