Add-on Acquisition • Software

Stewart Information Services Acquires PropStream

On November 12, 2021, Stewart Information Services acquired software company PropStream for 175M USD

Acquisition Context
  • This is Stewart Information Services’ 2nd transaction in the Software sector.
  • This is Stewart Information Services’ 2nd largest (disclosed) transaction.
  • This is Stewart Information Services’ 13th transaction in the United States.
  • This is Stewart Information Services’ 3rd transaction in California.

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M&A Deal Summary

Date November 12, 2021
Target PropStream
Sector Software
Buyer(s) Stewart Information Services
Deal Type Add-on Acquisition
Deal Value 175M USD
Advisor(s) Houlihan Lokey (Financial)
Jeffer Mangels Butler & Mitchell (Legal)

Target Company

PropStream

Lake Forest, California, United States
PropStream is a residential real estate data and analytics platform for investors, realtors, real estate agents, brokers, and lenders. PropStream is based in Lake Forest, California.
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Buyer Overview 1

Buyer

Stewart Information Services

Houston, Texas, United States

Category Company
Founded 1893
Sector Information Services
Employees6,900
Revenue 2.0B USD (2017)
DESCRIPTION
Entrance to Stewart Information's corporate headquarters in Houston, Texas.
Entrance to Stewart Information's corporate headquarters in Houston, Texas.

Stewart Information Services Corp. is an insurance and real estate services company. Stewart offers products and services through its direct operations, a network of approved agencies and other companies within the Stewart family of companies. Stewart Information Services was formed in 1893 and is based in Houston, Texas.


Deal Context for Buyer #
Overall 13 of 19
Sector: Software 2 of 2
Type: Add-on Acquisition 13 of 18
State: California 3 of 3
Country: United States 13 of 19
Year: 2021 8 of 10
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 Rainier Title

Seattle, Washington, United States

Rainier Title is an operator of a veteran title agency backed by national underwriters and utilizing cutting-edge technology provides title and escrow services. Rainier Title was founded in 1989 and is based in Seattle, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 Devon Title

Troy, Michigan, United States

Devon Title is a title agency, that provides superior title services to customers across the state. Devon Title is based in Troy, Michigan.

Buy -