Industry News

Zaio to buy N.Y.-based Real Info and appraisal firm

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Canada's Zaio Corp. says its U.S.-based subsidiary will purchase two affiliated businesses -- the appraisal firm Kirchmeyer & Associates and real estate information provider Real Info Inc. -- for $5.5 million in cash and stock. Zaio has developed a database of photos, valuations and property information by employing a network of local appraisers to photograph and appraise entire cities from the street. Kirchmeyer is the largest appraisal firm in New York, Zaio said, and provides appraisal services throughout the United States through its relationships with more than 7,000 appraisers. Real Info provides automated property valuations to home equity lenders, credit unions, and real estate professionals, and provides searchable real estate data on over 85 million parcels across the United States through a subscription service. Both Kirchmeyer and Real Info are based in Buffalo, N.Y., and headed by the same chief executive officer, Jim Kirchmeyer. "Our clients have always viewed Kirch...