Fidelity National Financial, Inc. Announces FNF Group Acquisition of Commissions, Inc.
Product offerings include software, marketing and services designed to enhance the productivity and sales results of elite Realtors® and agent teams through lead generation and proactive lead management. CINC has more than 1,500 customers who collectively have closed more than 170,000 residential real estate transactions over the last twelve months.
"We are excited to partner with CINC to bring value-added technology and services to our Realtor® customers," said Chairman,
William P. Foley, II. "To this point, CINC's strong revenue and customer growth has been largely organic, with minimal sales force efforts needed. We plan to leverage FNF's title sales force to proactively cross-sell the CINC product suite to our leading customers. With CINC's solid existing customer base, innovative product set and our combined plan for continued development of the CINC product suite, we find the opportunity for further significant revenue and EBITDA growth to be compelling."
"We look at everything from a 360-degree perspective," said
Duane LeGate, CEO of CINC. "Joining FNF is a huge win for everyone involved. Our clients get fresher, richer data with more access to actionable home buyers and sellers. Our employees get the capabilities and backing of a Fortune 500 company to help accelerate our growth. Most importantly, we are perfectly aligned culturally and know that we will be able to continue running the business as we always have, but with vastly increased resources."
About
About CINC
Founded in
Duane LeGate was recently announced as an Ernst and Young Entrepreneur of the Year 2016 Award winner for the Southeast division. Along with this award in 2016, CINC has been highlighted as
Forward-Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not
limited to: changes in general economic, business and political conditions, including changes in the financial markets; weakness or adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on distributions from our title insurance underwriters as a main source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other
sections of the Company's Form 10-K and other filings with the
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