Stewart Acquires Cloudvirga to Strengthen Digital Footprint
Summary
HOUSTON--(BUSINESS WIRE)--Stewart Information Services Corporation (NYSE:STC), announced today its acquisition of Cloudvirga, a leading fintech company powering digital mortgages, adding an industry-leading customer engagement technology platform to the Stewart family. “Combined with our newly acquired capabilities such as RON, a notary network and valuation services, Cloudvirga’s platform will accelerate our digital offerings in all markets, complement our existing capabilities and enhance our ability to provide customers with end-to-end mortgage services and solutions.” Founded by industry experts in 2016, Cloudvirga is a customer engagement platform and digital origination platform that powers Lenders, Originators and Brokers while also automating back office tasks. “We are excited about the opportunity to join Stewart at this important time in our industry,” said Kyle Kamrooz, Co-Founder & CEO, Cloudvirga. “Having the backing of an industry leader like Stewart will allow us to increase value to our customers as we streamline and accelerate the origination process.” Houlihan Lokey acted as exclusive financial advisor to Cloudvirga in this transaction. At Stewart, we are dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual success.