Dolan Media Co. has acquired an additional 7.57% membership interest in National Default Exchange, or NDeX, increasing its ownership from 84.67% to 92.24%.
Dolan Media acquired the interest from NDeX Chairman and CEO Dave Trott, and four partners of law firm Trott & Trott PC, an NDeX customer. Dave Trott is also the managing partner of Trott & Trott.
‘We are very pleased to expand our ownership stake in NDeX,’ says James P. Dolan, Dolan Media's chairman, president and CEO. ‘This acquisition allows us to capture more of NDeX's cash flow and continue to build upon the success created by Dave's leadership and expertise in mortgage default processing.’
There will be no changes in operations or business relationships, Trott says.
SOURCE: Dolan Media Co.