SANTA ANA, Calif., Dec. 22, 2011 /PRNewswire/ -- First American Title Insurance Company, a leading global provider of title insurance and settlement services for real estate transactions, today announced that it has signed an agreement to acquire Hexter-Fair Title Company, a Dallas-Fort Worth-based title and escrow company founded in 1916.
The transaction is expected to close in January 2012 pending regulatory approval and terms of the deal were not disclosed. With the acquisition of Hexter-Fair, First American will increase its market share by adding 21 new offices in the Dallas-Fort Worth metropolitan area.
Hexter-Fair's current owner, David Fair, will remain as chairman of the new entity, Hexter-Fair/First American Title Company, LLC, and will continue to be an integral part of the leadership team.
"This acquisition will significantly enhance First American's title operations in Dallas-Fort Worth," said Dennis Gilmore, president of First American Title Insurance Company. "Together with Republic Title, the new entity will increase our range of service in that area and further our strategy to grow market share in the largest title and settlement services markets."
About First American Title Insurance Company
First American Title Insurance Company, the largest subsidiary of First American Financial Corporation (NYSE: FAF), traces its history to 1889. One of the largest title insurers in the nation, the company offers title services through its direct operations and an extensive network of agents throughout the United States and abroad. The company has its headquarters in Santa Ana, Calif. Information about First American Financial Corporation's subsidiaries and an archive of its press releases can be found at www.firstam.com.
Carrie Navarifar Media Relations Manager First American Financial Corporation (714) 250-3298
Investor Contact: Craig Barberio Director of Investor Relations First American Financial Corporation (714) 250-5214
SOURCE First American Financial Corporation