Divestiture • Financial Services

Covius Acquires Chronos Solutions - Credit Verification REO and Auction Businesses

On June 4, 2019, Covius acquired financial services company Chronos Solutions - Credit Verification REO and Auction Businesses from Chronos Solutions

Acquisition Context
  • This is Covius’ 1st transaction in the Financial Services sector.
  • This is Covius’ 1st transaction in the United States.
  • This is Covius’ 1st transaction in Texas.

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M&A Deal Summary

Date June 4, 2019
Target Chronos Solutions - Credit Verification REO and Auction Businesses
Sector Financial Services
Buyer(s) Covius
Sellers(s) Chronos Solutions
Deal Type Divestiture

Target Company

Chronos Solutions - Credit Verification REO and Auction Businesses

Texas, United States
Chronos Solutions - Credit, Verification, REO, and Auction Businesses comprises credit, flood, income and tax verification services, government services, REO management and disposition, online foreclosure auction, and homeowners association (HOA) tracking units.
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Buyer Overview 1

Buyer

Covius

Atlanta, Georgia, United States

Category Company
Founded 1996
Sector Business Services
DESCRIPTION

Covius LLC is a provider of risk management and compliance-related services and technology to the mortgage industry. Since 1996, Covius has provided mortgage advisory and technology services to the residential and commercial real estate finance industries.


Deal Context for Buyer #
Overall 1 of 4
Sector: Financial Services 1 of 3
Type: Divestiture 1 of 3
State: Texas 1 of 1
Country: United States 1 of 4
Year: 2019 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-22 Clayton Holdings

Shelton, Connecticut, United States

Clayton Holdings LLC is a provider in transaction management support, loan analysis, consulting, predictive analytics, independent credit risk management, and securities surveillance. Clayton Holdings was established in 2004 and is based in Shelton, Connecticut.

Buy -

Seller Profile 1

SELLER

Chronos Solutions

Frisco, Texas, United States

Category Company
Founded 2004
Sector Real Estate
DESCRIPTION

Chronos Solutions is a real estate finance services provider delivering elite mortgage and real estate services across the industry.


Deal Context for Seller #
Overall 1 of 1
Sector: Financial Services 1 of 1
Type: Divestiture 1 of 1
State: Texas 1 of 1
Country: United States 1 of 1
Year: 2019 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-28 UPF Services

Spokane Valley, Washington, United States

UPF Services LLC is a provider of residential and commercial real estate mortgage and loan services to its financial institution customers. Mortgage lenders and loan servicers use these services to quantify and qualify risk and manage loss mitigation throughout the mortgage and loan spectrum.

Buy -