Industry News

First American acquires Interealty

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The First American Corp., a provider of advanced property and ownership information, analytics and services, has acquired Interealty, a division of Geac Enterprise Solutions and a provider of Web-based multiple listing service technology, for $35 million, First American said today. The transaction closed Oct. 1, the company said. The acquisition now means that more than 480,000 real estate professionals are now served by First American's Multiple Listing Service technology, according to First American. The acquisition is "another step toward First American's strategy of providing real estate professionals, buyers, sellers and borrowers with a comprehensive and convenient system that reduces the cost and time of residential real estate transactions," said Parker S. Kennedy, chief executive officer of The First American Corp., in a statement. "We will provide the most streamlined delivery of MLS data, property characteristic information and transaction management solutions, all of whic...