Mercury Network, a valuation vendor management platform used by more than 700 lenders and appraisal management companies (AMCs), is acquiring Platinum Data Solutions, which offers valuation data and analytics solutions, for an undisclosed sum.
The two companies have offered an integrated solution since January 2015. Their respective offerings are complementary, and the merger should result in few redundancies.
“Platinum pioneered automated appraisal underwriting and quality control, and expanding these tools in Mercury Network will help the industry enhance appraisal quality and gain efficiency,” says Will Clemens, CEO of Mercury Network, in a release.
Jennifer Miller, president of Mercury Network, says the goal in combining the two companies is to make it “as easy as possible for lenders, AMCs, credit unions, servicers, investors and their vendors to choose the best suite of services for their business.”