Fidelity National Financial, Inc. announced today that FNF Group has signed a definitive agreement to acquire Commissions Inc. (CINC).
According to the company announcement, Commissions Inc. is “the fastest-growing provider of an end-to-end SaaS CRM, lead generation and lead management software platform” for agents and teams.
CINC has more than 1,500 customers who collectively have closed more than 170,000 residential real estate transactions over the last twelve months, according to the announcement.
“We are excited to partner with CINC to bring value-added technology and services to our Realtor customers,” said FNF Chairman, William P. Foley, II, in the statement. “We plan to leverage FNF’s title sales force to proactively cross-sell the CINC product suite to our leading customers.
Duane LeGate, CEO of CINC, said “Joining FNF is a huge win … our clients get fresher, richer data with more access to actionable home buyers and sellers.”
The value of the transaction was not reported.
No SEC filings were found associated with the transaction, so it is unclear whether the transaction was material.
CINC was founded in 2011 with the promise of filling “a gaping hole in real estate technology,” according to its website.
“In a few short years and several thousand clients later, CINC has become the fastest growing real estate technology platform in the industry to date,” reads the website.
This is the first M&A deal in online real estate since the Market Leader sale last year.
Insiders say many others are in the works.