Chronos Solutions, a national real estate financial services provider, has acquired Commerce Title and Closing Services from parent company, Ten-X.
The deal – the terms of which were not disclosed – will significantly enhance Chronos’ presence in the California title market and is in keeping with the company’s strategy to grow through acquisition.
In a release, Matt Martin, CEO of Chronos Solutions (formerly Matt Martin Real Estate), explains that the acquisition of Commerce Title expands Chronos’ ability to deliver title and settlement services on a wide scale, especially in California, where the group has an extremely strong presence. Commerce Title’s high-performance platform will be integrated into Chronos Solutions’ flexible technology suite, as well.
“Commerce Title is fully licensed to perform title work throughout California, making it a natural fit for Chronos Solutions,” Martin says. “With this acquisition, we deepen the resources we can offer to our clients, as well as becoming even more flexible to our clients’ needs.
“Commerce Title’s historical emphasis on client service, innovation and flexibility align perfectly with the Chronos strategy and business model, and we believe our customers will appreciate the additional resources we will now be able to make available to them on the title and settlement services side of the transaction,” he adds.
In January 2015, Chronos acquired Realtybid.com, a leading online real estate auction marketplace, and in December, it purchased Cogent Road, a credit, verification and origination technology-based business.