Ideanomics completes acquisition of title and settlement firm Timios Holdings Corp
Ideanomics Inc (NASDAQ:IDEX) (FRA:0V5) announced Monday that has completed its previously announced acquisition of privately-held Timios Holdings Corporation.
Timios, a nationwide title and settlement solutions provider, has been expanding in recent years through offering innovative solutions for real estate transactions, including residential and commercial title insurance and closing and settlement services, as well as specialized offerings for the mortgage industry.
In a statement, Ideanomics said CEO Raymond B Davison and President Joseph Montag will continue to lead Timios, and the company “will retain its current leadership, personnel, branding, and culture and operate as an entity within the Ideanomics Capital division.”
READ: Ideanomics to acquire 100% of title and settlement firm Timios Holdings in an all-cash deal
The company noted that Timios combines difficult to obtain licenses, a knowledgeable and experienced team, and a scalable solutions platform to deliver best-in-class service through both centralized processing and a localized branch network.
“Ideanomics will assist Timios in scaling its business in various ways, including referring client acquisition and product innovation,” the company said in a statement.
The company offers title and settlement, appraisal management, and real-estate-owned (REO) title and closing services in 44 states and currently serves more than 280 national and regional clients.
Ideanomics is focused on the convergence of financial services and industries experiencing technological disruption. Its Mobile Energy Global (MEG) division is a service provider, which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under its sales-to-financing-to-charging (S2F2C) business model.
Meanwhile, Ideanomics Capital is focused on disruptive fintech solutions and services across the financial services industry.
The company is headquartered in New York, with offices in Beijing, Hangzhou, and Qingdao, and operations in the US, China, Ukraine, and Malaysia.
Contact the author Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/938070/ideanomics-completes-acquisition-of-title-and-settlement-firm-timios-holdings-corp-938070.html
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