Landata Group, Inc. Acquires Ultima Software Corp.
|January 11, 2002|
SAN ANTONIO, /PRNewswire/ -- Landata Group, Inc., a subsidiary of Stewart Information Services Corp. (NYSE: STC - news), has formed a new operating subsidiary, Ultima Corp., with assets acquired from Ultima Software Corp. combined with the existing title plant staff and resources of Landata. The formation of the new company positions Ultima as a leading provider of title plant software, servicing in excess of 425 distinct customer sites or counties in 28 states, while providing a strong history of innovation and customer service.
"We are very excited to be part of the Stewart family of companies and its heritage of more than 100 years of dedicated service to the title industry," said Kent Weiand, president of Ultima. "Our clients will receive immediate benefits from the bundling of outstanding features between past products of both companies into the now united title plant software product, Title Search®. The title industry will receive the long-term benefits of the alliance through a knowledgeable, talented and determined development team, as well as continued delivery of consistent, high-quality applications and superior customer service."
Don Lee, chairman of Landata Group, Inc. added, "Our goals are straightforward. Ultima Corp. will develop and deliver the industry standard for title plant software through technological enhancements, product integration, and information distribution via the Internet. At the same time, we will reduce redundant costs and provide our existing and potential clients with cost effective title plant solutions. It is a great strategic fit."
Source: Landata Group, Inc.