- The acquisition of First Alliance Title will further extend Compass' fast-growing title and escrow portfolio that now serves California, Colorado, Florida, Washington State, Maryland, Virginia, Washington D.C. and Texas
NEW YORK, Sept. 22, 2021 /PRNewswire/ -- Compass, the real estate technology company, today announced that it has signed a definitive agreement to acquire First Alliance Title LLC, a leading title company serving the Denver metro area. The acquisition extends the company's growing portfolio of title and escrow businesses that now serves nine states.
"Compass firmly believes that agents are, and will continue to be, central to the real estate transaction. For agents to be truly great at their jobs they deserve an end-to-end platform that provides them with complete transparency over the entire process," said Compass SVP of New Business Pooneet Kant. "Today as we announce our plans to acquire First Alliance Title, one of the most respected title and escrow companies in Colorado, we are one step closer to realizing our vision of a seamless real estate experience."
With three Denver locations, First Alliance Title is a leading provider of title services throughout the Denver area. Since their inception, the company has been focused on impeccable customer service, backed by the financial strength and practices that provide absolute peace of mind for their clients around this critical component of a successful real estate transaction.
"We are incredibly excited to be joining Compass, a partner that shares our passion for providing outstanding service, and investing in the best technology in the business. This partnership not only provides us the opportunity to extend our network and advance the goals of our business, it enables us to strengthen the unique service and company culture that our customers and staff have grown to love," said Greg Parham, Co-founder and President of First Alliance Title. "This is an exciting time for the Colorado real estate industry as a whole, and we're fortunate to have found a partner that shares our vision for the future."
The transaction is expected to close before the end of the year and the terms of the deal are not being disclosed. In February of this year Compass announced the acquisition of Washington D.C. area title insurance and settlement services company, KVS Title and earlier in September the company acquired the Dallas-Fort Worth based title company, LegacyTexas Title. The addition of First Alliance Title expands Compass' growing title and escrow services portfolio, which now serves California, Colorado, Florida, Washington State, Maryland, Virginia, Washington D.C. and Texas.
About Compass Founded in 2012, Compass is a leading real estate technology company, providing an end-to-end platform that empowers its residential real estate agents to deliver exceptional service to seller and buyer clients. The platform includes an integrated suite of cloud-based software for customer relationship management, marketing, client service, brokerage services and other critical functionality, all custom-built for the real estate industry. Compass agents utilize the platform to grow their business, save time and manage their business more effectively. For more information on how Compass empowers real estate agents, one of the largest groups of small business owners in the country, please visit www.Compass.com.
Cautionary Note Regarding Forward-Looking Statements Statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Compass' current perspective on existing trends and information as of the date of this release. Statements containing words such as "could," "believe," "expect," "intend," "will," or similar expressions constitute forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from Compass' current expectations depending upon a number of factors affecting Compass' business, including, but not limited to, expansion into new markets, prevailing market conditions, the impact of general economic, industry or political conditions in the United States or internationally, and risks related to the impact of the COVID-19 pandemic. The foregoing list of risks and uncertainties is illustrative, but is not exhaustive. For information about other potential factors that could affect Compass' business and financial results, please review the "Risk Factors" described in Compass' Form 10-Q for the quarter ended June 30, 2021 filed with the Securities and Exchange Commission (the "SEC") on August 10, 2021, and Compass' other filings with the SEC. Except as may be required by law, Compass undertakes no obligation, and does not intend, to update these forward-looking statements after the date of this release.