Real estate closing platform and software provider Qualia is acquiring RamQuest and E-Closing from Old Republic National Title Holding Company.
The financial terms of the deal were not disclosed. Like Qualia, RamQuest and E-Closing are closing platforms, with RamQuest being one of the most widely used by title professionals in addition to Qualia and Softpro.
In an announcement on Wednesday, Qualia said the acquisitions are part of a strategic partnership with Old Republic.
“Throughout Old Republic Title’s 117-year history in serving the American homeowner, we have embraced opportunities to improve the method of transferring real estate. As the speed of technological innovation in our industry accelerates, partnering with Qualia will help us provide an improved experience for both our agents and our insureds,” Carolyn Monroe, the president and CEO of Old Republic Title, said in a statement. “It creates a mutually effective path for offering the expertise of Qualia in the rapidly changing technology environment, and the strength of Old Republic Title as a leader in the title industry.”
Qualia said that these acquisitions will expand the capabilities of its title production offerings.
Additionally, Qualia CEO Nate Baker told HousingWire that as part of the strategic partnership, Old Republic would be moving the majority of its direct title insurance operation over to the Qualia platform.
“I think a big part of what is motivating this deal and this partnership is a shared understanding that real estate is changing faster now than it ever has before,” Baker said. “A lot of the title closing and real estate back office workflow stuff is squarely in the wheelhouse of the type of work that is automatable with AI, and I think this is a preparatory step for both companies towards looking at how we are going to utilize the tools that are coming out.”
Baker acknowledged that many of the nation’s largest title companies have chosen to develop their own closing software and platforms in-house, but he feels that through this partnership Qualia will be able to focus more on the technology side of things, allowing Old Republic to turn more of its attention to running its core business and serving its title agents to the best of its ability.
“We are just really excited for this partnership,” Baker said.
Qualia had previously acquired Adeptive, the parent company of software provider ResWare in Dec. 2020.
