No deal for FNIS, Factual Data

August 30, 2002

Previously announced acquisition called off


Inman News Features

Fidelity National Information Solutions Inc. (Nasdaq: FNIS) and Factual Data Corp. (Nasdaq: FDCC) have mutually agreed to terminate the agreement and plan of merger announced on July 24 under which FNIS would have acquired FDCC.

Neither company provided additional information about the terminated agreement.

In July, FNIS announced that FDCC would become a wholly-owned subsidiary of the company once certain conditions, including the completion of due diligence by both parties, FDCC stockholder approval, certain third-party consents and other customary closing conditions were met.

Factual Data Corp. provides customized mortgage credit reports and other mortgage related services, consumer credit reports, employment screening, resident screening and commercial credit reports.

FNIS provides data and technology services to lenders, real estate agents and other participants in the real estate industry.

Copyright: Inman News Service


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.