Jacksonville, Fla. — Fidelity National Financial Inc. (FNF), a Jacksonville, Fla.-based provider of title insurance, specialty insurance, claims management services and information services, announced the acquisition of all of the state of Colorado title insurance operations of the Mercury Cos. Inc., Denver.
The acquired operations, which include Security Title, First American Heritage Title, Title America and United Title, generated approximately a 30% market share during 2007, and have a history in the state of Colorado dating back to the 1940s. The acquisition also includes the Impact title operating system that these operations utilize.
"We are very excited to have the opportunity to acquire such a significant and well-established group of companies in the state of Colorado," says FNF Chairman William Foley II. "Our financial strength and ability to allocate capital during difficult market conditions allow us to make this strategic acquisition that we expect to generate significant future value for our shareholders."
"I am happy to announce the acquisition of our Colorado operations by FNF," says Jerry Hauptman, chairman and CEO of Mercury Cos. Inc. "FNF is an exceptionally strong, stable and well-run title company. Its financial strength and operational acumen will allow our Colorado operations to continue to provide the service and performance that our customers have come to expect for so many years. We are thrilled to become a part of the FNF family."
Source: Fidelity National Financial Inc.
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