Fidelity National Financial, Inc. (FNF - Free Report) has announced that its FNF Group has recently acquired a majority stake in SkySlope, Inc. However, the transaction’s financial details remain under wraps.
SkySlope provides digital transaction management services and closing solutions to real estate professionals. SkySlope’s cloud-based digital transaction management platform is used by over 1,500 brokerages, covering 5,000 offices. Last year, the company assisted 0.1 million agents to initiate approximately 1.5 million real estate transactions.
Fidelity National Financial is a leading provider of title insurance and transaction services to the real estate and mortgage industries. This buyout is expected to add capabilities to Fidelity National Financial’s product portfolio, thereby enabling the company to utilize the best of technology to provide quality services to real estate agents and brokers. Further, this will help them gain more customers and close more transactions, boosting the trade in turn.
SkySlope’s transaction management platform and SkyTC transaction coordination services are also part of this acquisition. Its robust technology and an in-depth expertise in digital transaction management are anticipated to be highly accretive to the acquirer’s portfolio.
Fidelity National Financial consistently pursues strategic acquisitions in a quest to boost product portfolio as well as diversify the same. On Jun 28, 2017, the company had acquired a majority stake in Title Guaranty to consolidate its title and escrow service capabilities. A strong financial position with steady operational performance supports Fidelity National Financial in driving strategic initiatives.
Zacks Rank and Share Price Movement
Shares of Fidelity National Financial have outperformed the industry in a year’s time. While the stock has surged 33.4%, the industry has gained 27.3%. Strategic plans to boost operational performance are expected to drive the stock higher.
Fidelity National Financial carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Insurers Pursuing Inorganic Path
Time and again, companies have resorted to mergers and acquisitions to ramp up their growth profile. Arthur J. Gallagher & Co. (AJG - Free Report) has recently acquired Premier Insurance, LLC, doing business as Lutgert Insurance to boost presence in southwest Florida. AXIS Capital Holdings Limited (AXS - Free Report) has acquired Novae Group plc’s shares at a price of 715 pence per share to to ramp up Llyods’ presence. Brown & Brown, Inc (BRO - Free Report) via its subsidiary, Pacific Resources Benefit Advisors, LLC, closed the buyout of all assets of herronpalmer LLC to enhance its ability to deliver advisory and employee benefit services across various markets.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research. It's not the one you think.
See This Ticker Free >>